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of eit.edu Clear my choice Ninat Inc. reported a gain on the sale of equipment...

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Accounting

of eit.edu Clear my choice Ninat Inc. reported a gain on the sale of equipment of $12 million. In addition, the company's income statement shows depreciation expense of $6 million and the cash flow statement shows capital expenditure of $20 million, all of which was for the purchase of new equipment. The balance sheet shows that the beginning balance of equipment was $195 million, while the ending balance is $203 million. The beginning balance for equipment-accumulated depreciation is $40 million and the ending balance is $42 million. How much cash did the company receive from the equipment sale? O a. None of the above O b. $18 million O c. $16 million O d. $17 million e. $20 million Of. $21 million Q Search InnJoo O Next page ENG ? TH 5:11 PM 12/12/2023

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