Sunland Company reported a loss of $1508 for the sale of equipment for cash. The equipment had a cost of $37120 and accumulated depreciation of $34220. How much will Sunland report in the cash flows from investing activities section of its statement of cash flows? $1392 $35612 $1508 $4408 In calculating net cash provided by operating activities using the indirect method, why is there an adjustment to net income for the amount of depreciation expense? Depreciation is a cash expense that was deducted to determine net income, so it must be added back to determine the net cash flows. Depreciation is a cash amount that will not be paid during the current year. Depreciation is not a cash amount and was deducted to determine net income, so it must be added back to determine the net cash flows. Depreciation is a cash outflow that reduces the amount of income. Current Attempt in Progress Sandhill Products reported cost of goods sold of $607600 for the year ended December 31, 2014. During the year, inventories increased by $7840, accounts payable decreased $11760, and sales increased by 522540. How much cash did Sandhill Products pay to suppliers in 2014? $627200 $603680 $588000 $611520