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Alabama, Inc. reported a net income of $80,000 for the year ended December 31, 2021. Included in net income were depreciation expenses of $10,800 and
Alabama, Inc. reported a net income of $80,000 for the year ended December 31, 2021. Included in net income were depreciation expenses of $10,800 and a gain on the sale of equipment of $2,400. The equipment had a historical cost of $70,000 and accumulated depreciation of $55,000. Each of the following accounts increased during 2021: Land $15,000 Prepaid rent $18,600 Bonds payable $20,000 Accounts Receivable $10,000 What is the amount of cash provided by or used by investing activities for Alabama, Inc. for the year ended December 31, 2021?
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