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Question
Given the following information, determine the amount of cash flows from investing and financing activities.
| Net income | $50,000 |
| Loss on sale of plant assets | 15,000 |
| Cash received from sale of plant assets | 26,000 |
| Cash received from issuing stock | 70,000 |
| Increase in income taxes payable | 120,000 |
A.
| Cash provided by investing activities, $11,000 |
| Cash provided by financing activities, $70,000 |
B.
| Cash used by investing activities, $11,000 |
| Cash used by financing activities, $70,000 |
C.
| Cash provided by investing activities, $26,000 |
| Cash provided by financing activities, $55,000 |
D.
| Cash used by investing activities, $26,000 |
| Cash used by financing activities, $55,000 |
E.
| Cash provided by investing activities, $26,000 |
| Cash provided by financing activities, $70,000 |
Answer
This answer is hidden. It contains 117 characters.
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