A fixed asset with a cost of $33,544 and accumulated depreciation of $30,189.60 is sold for $5,702.48. What is the amount of the gain or loss on disposal of the fixed asset?

a.$2,348.08 gain

b.$3,354.40 gain

c.$3,354.40 loss

d.$2,348.08 loss

Accounts receivable from sales transactions were $48,071 at the beginning of the year and $60,250 at the end of the year. Net income reported on the income statement for the year was $108,179. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is

a.$120,358

b.$108,179

c.$12,179

d.$96,000

The following information is available from the current period financial statements:

Net income	$129,178
Depreciation expense	21,517
Increase in accounts receivable	17,381
Decrease in accounts payable	19,600

The net cash flow from operating activities using the indirect method is

a.$113,714

b.$187,676

c.$129,178

d.$70,680

A building with a book value of $39,289 is sold for $57,190 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:

an increase of $57,190 from investing activities

an increase of $57,190 from investing activities and a deduction from net income of $17,901

an increase of $39,289 from investing activities

an increase of $39,289 from investing activities and an addition to net income of $17,901