The following balance sheets apply to American Airlines at year-end December 31, 2023:
Assets
2023 2022
Cash & Cash Equivalents
$1,400 $1,000
Accounts Receivable
480 530
Inventory
1,460 890
Land
980 600
Equipment
5,520 4,970
Accumulated Depreciation
(960) (740)
Total Assets
$8,880 $7,250
Liabilities & Stockholders' Equity
Accounts Payable
$1,200 $1,920
Long-Term Borrowings
1,680 2,210
Common Stock
2,400 1,440
Retained Earnings
3,600 1,680
Total Liabilities & Stockholders' Equity $8,880 $7,250
Additional Information:
• Net Income for 2023 was $2,600.
• During 2023, the Company sold Equipment for $890, that originally cost $890 and had a book value of $700.
• The Company sold Land for $500, resulting in a Loss of $100. The remaining Land change was due to the acquisition of Land for Common Stock.
Using the indirect method, calculate Total Cash Flow from Investing for December 31, 2023?
Select one:
a. $(940)
b. $(1,440)
c. $1,390
d. $(50)
e. $(1,010)