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Question 17 (2 points) Clayton Inc., a private company, is preparing the statement of cash flows for the fiscal year of 2022 under ASPE. The
Question 17 (2 points) Clayton Inc., a private company, is preparing the statement of cash flows for the fiscal year of 2022 under ASPE. The income statement and the statement of financial position follow: Adaitional information: - New equipment costing $141,000 was purchased for $71,000 cash and a $70,000 bank loan payable. - Equipment costing $56,000 was sold, resulting in a gain of $8,750. - A ccounts payable relate to merchandise creditors; accrued liabilities relate to operating expenses. - A dividend was paid during the year. - Operating expenses include $58,700 of depreciation expense. How much is the cash received from the disposal of equipment for the fiscal year of 2022 ? $8,750$56,000$6,800$15,550 none of the above
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