Question: Here is selected financial statement data regarding a company's long-term investments. Balance Sheet: Dec. 31, 2018 Dec. 31, 2017 Investments, long-term $ 1,200,000 $ 965,000

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Here is selected financial statement data regarding a company's long-term investments. Balance Sheet: Dec. 31, 2018 Dec. 31, 2017 Investments, long-term $ 1,200,000 $ 965,000 Income Statement: 2018 Gain on sale of long-term investments 26,000 During the year, the company sold long-term investments for $80,000 cash. In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of long-term investments" for $

During the year, the company sold long-term investments for $80,000 cash.

In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of long-term investments" for $____

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balance sheet

dec.31,2018

dec. 31, 2017

Investments, long-term

$ 1,200,000

income Statement:

Gain on sale of long-term investments

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