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Swifty Corporation sold some of its plant assets during 2021. The original cost of the plant assets was $905000 and the accumulated depreciation at date
Swifty Corporation sold some of its plant assets during 2021. The original cost of the plant assets was $905000 and the accumulated depreciation at date of sale was $847000. The proceeds from the sale of the plant assets were $89000. The information concerning the sale of the plant assets should be shown on Swifty's statement of cash flows (indirect method) for the year ended December 31, 2021, as a(n) O subtraction from net income of $31000 and a $89000 increase in cash flows from investing activities. O subtraction from net income of $31000 and a $58000 increase in cash flows from financing activities. O addition of $89000 to net income. O addition to net income of $31000 and a $89000 increase in cash flows from investing activities
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