The sale of equipment did not result in the receipt of any cash by Gannon Corporation. The sale resulted in a cash receipt in an accounting period different from the period in which the gain was recognized. The amount of the gain recognized was not equal to the cash received. This type of transaction is not classified as an operating activity.

• The sale of equipment did not result in the receipt of any cash by Gannon Corporation.

• The sale resulted in a cash receipt in an accounting period different from the period in which the gain was recognized.

• The amount of the gain recognized was not equal to the cash received.

• This type of transaction is not classified as an operating activity.