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Apple, Inc. reported net income of $65,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,200 and a
Apple, Inc. reported net income of $65,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,200 and a gain on sale of equipment of $5,400. The equipment had an historical cost of $70,000 and accumulated depreciation of $55,000. Each of the following accounts increased during 2021:
Land $13,000
Prepaid rent $13,600
Available-for-sale securities $3,000
Bonds payable $20,000
What is the amount of cash provided by or used by investing activities for Apple, Inc. for the year ended December 31, 2021?
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