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Sargeant Ventures reported $10,000 cash used in the operating activities section of the Statement of Cash Flows and the following data: depreciation expense $10,000; an

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Sargeant Ventures reported $10,000 cash used in the operating activities section of the Statement of Cash Flows and the following data: depreciation expense $10,000; an accounts payable increase of $12,000; a $3,000 decrease in accounts receivable; an increase in wages payable of $8,000; and a $15,000 gain on the sale of long-term investments. Sargeants net income/loss for the period was $8,000 income. $28,000 loss. $38,000 loss. $2,000 income

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