During the year, equipment with an original cost of $17,000, and accumulated depreciation totaling $16, 800 was sold for $3, 600. Dividends were declared and paid during the year. How much cash was used to acquire new equipment during 2014? $3, 600 $27, 600 $41,000 $24,000 Kingston Jerk Factory reported the following results for 2014: During 2014, the company sold equipment that had an original cost of $39,000 and accumulated depreciation of $31,000 for $13,000. New equipment was purchased for cash during the year. How much gain/(loss) will Kingston add or subtract from net income when preparing the operating activities section of the statement of cash flows using the indirect method for 2014? Subtract $5,000 Add $2,000 Subtract $26,000 There is not enough information provided to answer this question. Comparative financial statements for Cross, Inc. are shown below