Gannon Corporation uses the indirect method to prepare its statement of cash flows. Following this approach, a gain on sale of equipment was deducted from net income in computing net cash flow from operating activities. The most likely reason for this adjustment is that: O The sale of equipment did not result in the receipt of any cash by Gannon Corporation. O To prevent counting the amount of gain twice. o The amount of the gain recognized was not equal to the cash received. The sale resulted in a cash receipt in an accounting period different from the period in which the gain was recognized