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Oley Co. of some of its plant assets during 2022 The original cost of the plant assets was $425,000, and accumulated depreciation on those
Oley Co. of some of its plant assets during 2022 The original cost of the plant assets was $425,000, and accumulated depreciation on those assets at the date of sale was $400,000 Proceeds from the sale of the plant assets were $20,000 Information concerning the sale of the plant assets should be shown on Olley's Statement of Cash Flows (Indirect Method) for the year ended December 31, 2022, as an) Oa Subtraction from net income of $5,000 and a $20,000 increase in cash flows from investing activities Ob. Addition to net income of $5,000 and a $20,000 increase in cash flows from investing activities Oc. Addition to net income of $5,000 and a $20,000 decrease in cash flows from financing activities Od Addition of $20,000 to net income Oe. Subtraction from net income of $5,000 and a $25,000 increase in cash flows from financing activities
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