Use the Following Information for Questions 18-19

question 53

Multiple Choice

Use the following information for questions 18-19.
The statements of financial position for King Lear Corp. at the end of 2020 and 2019 are as follows: During 2020, land was acquired in exchange for common shares (which had a market value of $ 150,000 at the time) . All equipment purchased was for cash. Equipment costing $ 15,000 was sold for $ 6,000 cash; book value of the equipment at the time of sale was $ 12,000, and the loss was included in net income. Cash dividends of $ 30,000 were declared and paid during the year. King adheres to ASPE and uses the indirect method when preparing the statement of cash flows.
-The cash provided by (used in) investing activities was

• A) $ 39,000.
• B) $ (54,000).
• C) $ (60,000).
• D) $ (204,000).

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Definitions:

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