12) When using the indirect method to prepare the operating section of a statement of cash flows, a gain on the sale of equipment and a loss on impairment of an asset would both be added back as an adjustment to net income. (answer True or False)

13) A statement of cash flows typically would not disclose the effects of an exchange of a truck for machinery. (answer True or False)

14) A stock split is an example of an investing and financing activity. (answer True or False)

15) Grape Company sold a plant asset during 2021. The original cost of the plant asset was $700,000 and the accumulated depreciation at date of sale was $550,000. The proceeds from the sale of the plant asset was $83,000. The cash proceeds from the sale of the plant asset should be shown in which section of the statement of cash flows?

16) Blue Sky Corporation had net income for 2021 of $2,500,000. Additional information is as follows:

Depreciation of plant assets $800,000

Amortization of intangibles 320,000

Decrease in accounts receivable 420,000

Increase in accounts payable 440,000

Blue Skys net cash provided (used) by operating activities for 2021 was ________