Question: Can you solve this general accounting question with the appropriate accounting analysis techniques? Logan Corp. reported a net income of $50,000 for the year ended

Can you solve this general accounting question with the appropriate accounting analysis techniques?

Logan Corp. reported a net income of $50,000 for the year ended December 31, 2023. Included in net income were a gain on sale of land of $2,500 and depreciation expense of $10,000. The land sold had a historical cost of $30,000 and was sold for $32,500. During the year, the company also purchased patents for $4,000 and bought equipment for $6,000. What is the amount of cash provided by or used in investing activities for Logan Corp. for the year ended December 31, 2023

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