Illinois Woodworking Company is preparing its statement of cash flows using the indirect method. During the year, Illinois Woodworking sold equipment for $7.990 cash. The net book value of the asset was $4,970. Which of the following statements is true? A. The book value of the asset sold is shown as a negative cash flow in the investing activities section B. The gain on sale of $3,020 is added back to net income in the operating activities section C. The gain on sale of $3,020 is shown as a positive cash flow in the financing activities section D. The cash receipt of $7.990 is shown as a positive cash flow in the investing activities