Lion and Rose Corporation sold equipment that had a cost of $40,000 and accumulated depreciation...
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Lion and Rose Corporation sold equipment that had a cost of $40,000 and accumulated depreciation of $12,000. If there was a gain on the sale of $5,000, what amount should Lion and Rose Corporation report on the statement of cash flows as cash flow from sale of equipment?
| $45,000 | ||
| $33,000 | ||
| $28,000 | ||
| $5,000 |
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