In preparing a company's statement of cash flows for the most recent year, the following information is available:
Loss on the sale of equipment $14,500
Purchase of equipment 150,000
Proceeds from the sale of equipment 131,000
Re-payment of outstanding bonds 89,500
Purchase of treasury stock 64,500
Issuance of common stock 98,500
Purchase of land 120,000
Increase in accounts receivable
during the year 45,500
Decrease in accounts payable
during the year 77,500
Payment of cash dividends 37,500
Net cash flows from investing activities for the year were:_____.
a. $262,000 of net cash used.
b. $228.500 of net cash provided.
c. $139,000 of net cash used.
d. $124,500 of net cash used.
e. $139,000 of net cash provided.