Question 1 (1 point) The following entry was recorded by Woodrow Inc.: 57,000 33,000 Cash Accumulated depreciation Loss on disposal of property, plant and equipment (PPE) PPE 10,000 100,000 What is the effect on Woodrow's financial statements? A cash inflow from financing activities of $57,000. A deduction of $10,000 in using the indirect method of determining cash flow. from operating activities. Retained earnings decreased by $10,000, Net assets increased by $57,000. Previous Page Navt D