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Tanya [424]
4 years ago
6

The following information to perform the calculations below (using the indirect method).

Business
1 answer:
Liono4ka [1.6K]4 years ago
7 0

Answer: -$556,000

Explanation:

Based on the information given in the question, the the amount of cash used by investing activities would be calculated as:

Purchase of long-term assets -612,000

Add: Sale of long-term investment at cost 56,000

The amount of cash used by investing activities would now be:

= -$612,000 + $56,000

= -$556,000

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