Use the Following Information for Questions 12-13 -The Cash Provided by (Used In) Investing Activities During 2020

question 73

Multiple Choice

Use the following information for questions 12-13.
Fables Corp. provided the following information for calendar 2020: Fables adheres to ASPE. $\begin{array}{llr} \text {Proceeds from issuing bonds } &\$300,000\\ \text { Purchase of inventories. } &570,000\\ \text { Purchase of treasury shares} &90,000\\ \text { Purchase of long-term investment } &420,000\\ \text { Dividends paid to preferred shareholders } &60,000\\ \text { Proceeds from issuing preferred shares } &240,000\\ \text {Proceeds from sale of equipment } &60,000\\\end{array}$

-The cash provided by (used in) investing activities during 2020 is

• A) $ 60,000.
• B) $ (360,000).
• C) $ (600,000).
• D) $ (660,000).

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