Given the Following Information, Determine the Amount of Cash Flows

question 117

Multiple Choice

Given the following information, determine the amount of cash flows from investing and financing activities. $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 50,000 \\\hline \text { Loss on sale of plant assets } & 15,000 \\\hline \text { Cash received from sale of plarit assets } & 26,000 \\\hline \text { Cash received from issuine stock } & 70,000 \\\hline \text { Increase in income taxes payable } & 120,000\\\hline\end{array}$$

• A)
• \(\begin{array}{|l|}
• \hline\text{Cash provided by investing activities,}~ \$ 11,000\\
• \hline\text{Cash provided by finanicing activities,}~\$ 70,000\\
• \hline
• \end{array}\)
• B)
• \(\begin{array}{|l|}
• \hline\text{Cash used by investing activities,}~ \$ 11,000\\
• \hline\text{Cash used by finanicing activities,}~\$ 70,000\\
• \hline
• \end{array}\)
• C)
• \(\begin{array}{|l|}
• \hline\text{Cash used by investing activities,}~ \$ 26,000\\
• \hline\text{Cash used by finanicing activities,}~\$ 55,000\\
• \hline
• \end{array}\).
• D)
• \(\begin{array}{|l|}
• \hline\text{Cash used by investing activities,}~ \$ 26,000\\
• \hline\text{Cash used by finanicing activities,}~\$ 55,000\\
• \hline
• \end{array}\)
• E)
• \(\begin{array}{|l|}
• \hline\text{Cash provided by investing activities,}~ \$ 26,000\\
• \hline\text{Cash provided by finanicing activities,}~\$ 70,000\\
• \hline
• \end{array}\)

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