1) Using the indirect method to prepare a statement of cash flow, the amount of depreciation expense to be added back to net income can be determined from:

Select one:

a. The comparative balance sheet only

b. The statement of owners' equity

c. The income statement only

d. Both the comparative balance sheet and income statement

2) In which section of the statement of cash flow would a trade of long-term investments for new equipment appear?

Select one:

a. Operating activities section

b. Investing activities section

c. Financing activities section

d. Not included in the statement of cash flow