Final answer:
The total amount reported in the cash flows from investing activities section of the statement of cash flows is $68,889.
Option A is correct.
Step-by-step explanation:
The total amount reported in the cash flows from investing activities section of the statement of cash flows is $68,889.
To find this amount, we need to calculate the cash received from selling the office equipment. The gain realized from selling the equipment is given as $7,515, and the book value of the equipment is $61,374.
Subtract the book value from the gain: $7,515 - $61,374 = -$53,859.
Since the gain is realized in cash, the cash received from selling the equipment is -$53,859.
However, when reporting the cash flows from investing activities, the amount should be positive. So, we take the absolute value of the cash received: $53,859.
Finally, we add the cash received to the gain: $53,859 + $7,515 = $61,374.
Therefore, the total amount reported in the cash flows from investing activities section of the statement of cash flows is $68,889.