Financial statements - Income statement for 20x4 and Comparative Balance Sheet for diving equipment manufacturer Lincoln Corp for December 31, 20X4 and 20x3 Lincoln Corp. - Income Statement as of December 31st, 20x4 Revenue $5,000 Cost of Goods Sold $3,200 Gross Profit $1,800 Operating expenses $1,350 Operating Profit $ 450 Loss on sale of equipment $ 20 Income tax expense $ 180 Profit for 2012 $ 250 Lincoln Corp. - Balance Sheet December 31 20x4 20x3 Assets: Cash Accounts Receivable Inventory Prepaid expenses Equipment Accumulated Depreciation Total Assets $ 2,350 450 800 40 2,500 (1,350) $ 4,790 $ 1,800 1,000 700 80 1,500 (1,000) $ 4,080 $ 350 100 Liabilities & Shareholders' Equity Accounts Payable Operating expenses payable Income Taxes Payable Dividends Payable Long term notes Payable Common Shares Retained Earnings Total Liabilities & Shareholders' Equity $ 680 210 120 se 300 2,500 930 $ 4,790 10e 70 2,500 960 $ 4,790 Which of the following is reported in the Investing activities section when using the indirect method is? Multiple Choice None of the other alternatives are correct Cash outflow for the interests paid for $110 Cash inflow for purchase of a new machine for $1,200 Cash outflow for the loss on the sale of a machine for $20 Cash outflow for the issuance of notes payables for $230