The Plant Assets account and Accumulated Depreciation—Plant Assets account of Star Media show the following:

Star Media sold plant assets at an $11,000 loss. Where on the statement of cash flows should Star Media report the sale of plant assets? How much should the business report for the sale?

a. Financing cash flows—cash receipt of $42,000

b. Investing cash flows—cash receipt of $53,000

c. Investing cash flows—cash receipt of $31,000

d. Investing cash flows—cash receipt of $42,000

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Plant Assets 12/31/2023 100,000 Acquisitions 428,000 52,500 Disposals 12/31/2024 475,500 Accumulated Depreciation Plant Assets 12/31/2023 20,000 Disposals 10,500 34,000 43,500 Depr. Exp. 12/31/2024