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The Company sold some of its plant assets during the year. The original cost of...

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Accounting

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The Company sold some of its plant assets during the year. The original cost of the plant assets was $700,000 and the accumulated depreciation at date of sale was $640,000. The proceeds from the sale of the plant assets were $90,000. The information concerning the sale of the plant assets should be shown on the statement of cast flows (indirect method) as a(n) addition of $90,000 to net income. subtraction from net income of $30,000 and a $90,000 increase in cash flows from investing activities. O subtraction from net income of $30,000 and a $60,000 increase in cash flows from financing activities. addition to net income of $30,000 and a $90,000 increase in cash flows from investing activities

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