Determining Net Cash Flow from Investing Activities
Davis Inc. reported the following information:
12/31/2019 |
12/31/2018 |
|
Equipment |
$220,000 |
$155,000 |
Accumulated depreciation |
(135,000) |
115,200 |
Investment (long-term) |
20,200 |
12,000 |
In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350.
Required:
Compute net cash flow from investing activities.
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