Question: Kline Industries prepares its cash flow statement using the indirect method. Kline sold equipment with a book value of $7,500 at a loss of $1,300.

Kline Industries prepares its cash flow statement using the indirect method. Kline sold equipment with a book value of $7,500 at a loss of $1,300. The amount to be reported on the cash flow statement under "Cash received from sale of property, plant, and equipment" is: a. $1,300. b. $6,200. c. $7,500. d. $8,800

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