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GHI Corporation Comparative Statement of Financial Position GHI Corporation Income Statemenmt Additional information: 1 Equipment...

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GHI Corporation Comparative Statement of Financial Position GHI Corporation Income Statemenmt Additional information: 1 Equipment with an original cost of $20,000 thousand that was 75% depreciated was sold during 2 No items impacted earnings other than net income and dividends. 3 If the FIFO method had been in use, inventories would have been $11,500 thousand and $10,900 thousand higher than reported at December 31, 2019 and 2018, respectively. 4 Long-term debts are issued at par. 5 The effective tax rate for 2019 and earlier periods is 25%. 6 The GHI's accounting standrad is the same as the tax standard. The note shows that one equipment was sold in 2019 . How much cash did GHI receive from sales of the equipment? $ thousand Question 15 3 pts What net income would GHI report for 2019 if it had used the FIFO method instead of the LIFO method? $ thousand

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