Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $9,000. The net book value of the asset was $30,900. Which of the following statements describes the cash effect of the transaction?
A. positive cash flow of $39,900 from financing activities
B. negative cash flow of $21,900 for operating activities
C. negative cash flow of $21,900 for financing activities
D. positive cash flow of $21,900 from investing activitie
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