LARRY'S LOGGING EQUIPMENT, INC.Statement of Cash FlowsFor the Year Ended December 31, Year 3Cash flows from operating activities Cash collected from customersA$24,000 Cash paid to suppliers and employeesB (14,000) Cash paid for other operating activitiesC Unknown Net cash flow from operating activitiesD$ 10,000 Cash flows from investing activities Cash paid to purchase equipment and other assetsE (90,000) Cash received from selling equipment and other assetsF Unknown Net cash flow from (used by) investing activitiesG Unknown Cash flows from financing activities Cash paid on notes payableH (64,000) Cash paid for dividendsI (20,000) Net cash flow from (used by) financing activitiesJ Unknown Net change in cash during the
yearK 74,000 Beginning cash, January 1, Year 3L Unknown Ending cash, December 31, Year 3M 244,000 What amount is represented by letter C in the statement of cash flows?
A. $20,000
B. ($28,000)
C. $0
D. $28,000
Answer: C
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