Copper, Inc., a fictitious brewery and restaurant chain, reported a gain on the sale of equipment of $12 million. In add

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Copper Inc A Fictitious Brewery And Restaurant Chain Reported A Gain On The Sale Of Equipment Of 12 Million In Add 1 (82.97 KiB) Viewed 55 times

Copper, Inc., a fictitious brewery and restaurant chain, reported a gain on the sale of equipment of $12 million. In addition, the company's income statement shows depre- ciation expense of $8 million and the cash flow statement shows capital expenditure of $15 million, all of which was for the purchase of new equipment. Balance sheet item 12/31/2009 $100 million 12/31/2010 $109 million Change $9 million Equipment Accumulated depreciation-equipment $30 million $36 million $6 million Using the above information, how much cash did the company receive from cash sales? (2)