During the current year a business sold equipment with an original cost of $50,000 and an accumulated depreciation balance of $45,000 for $4,000 cash. When using the direct method of preparing the operating activities section of the statement of cash flows, the loss of $1,000 recorded on this sale will be O added to profit. deducted from profit. O omitted from the statement of cash flows. O added to the proceed and reported under investing activities.

During the current year a business sold equipment with an original cost of $50,000 and an accumulated depreciation balance of 545,000 for $4,000 cash. When usirg the direct method of preparing the operating activities section of the statement of cash flows, the loss of $1,000 recorded on this sale will be added to profit deducted from profit. omitted from the statement of cash flows. added to the proceed and reported under investing activities