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Equipment that cost $420000 and had accumulated depreciation of $230000 was sold for proceeds of $215000. This transaction should be reported on the statement of

image text in transcribed Equipment that cost $420000 and had accumulated depreciation of $230000 was sold for proceeds of $215000. This transaction should be reported on the statement of cash flows (indirect method) as a(n) addition to net income of $25000 and a $215000 cash inflow from financing activities. deduction from net income of $25000 and a $190000 cash inflow from investing activities. deduction from net income of $25000 and a $215000 cash inflow from investing activities. addition to net income of $25000 and a $190000 cash inflow from financing activities

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