A building with a book value of $45,273 is sold for $61,771 cash Using the indirect method, choose how this transaction should be shown on the statement of cash flows.

Select the correct answer. 1. an increase of $61,771 from investing activities and a deduction from net income of $16,498

2. an increase of $61,771 from investing activities

3. an increase of $45,273 from investing activities

4. an increase of $45,273 from investing activities and an addition to net income of $16,498

The charter of a corporation provides for the issuance of 104,000 shares of common stock. Assume that 54,000 shares were originally issued and 13,400 were subsequently reacquired. What is the number of shares outstanding?

A) 40,600

B) 104,000

C) 13,400

D) 54,000