Use the Following Information for Questions 24-25

question 22

Multiple Choice

Use the following information for questions 24-25.
Malcolm Corp.'s statements of financial position at December 31, 2020 and 2019 and information relating to 2020 activities are presented below: Other information relating to 2020 activities:
1. Net income was $ 375,000.
2. Cash dividends of $ 150,000 were declared and paid.
3. Equipment costing $ 250,000, with a book value of $ 80,000, was sold for $ 90,000.
4. A long-term investment was sold for $ 80,000. There were no other transactions affecting long-term investments.
5. 5,000 common shares were issued for $ 25 a share.
6. Temporary investments consist of treasury bills maturing on June 30, 2021.
-The cash used in investing activities in 2020 was

• A) $ 580,000.
• B) $ 455,000.
• C) $ 430,000.
• D) $ 420,000.

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Definitions:

Monopolists

Entities or individuals that have exclusive control over the supply of a particular good or service, potentially leading to distorted markets and higher prices.

Internalize

The process of absorbing or incorporating the costs or benefits of a transaction or activity, which were previously external to a market decision-maker, into their own decision-making process.

Nationalized

Refers to industries or assets that have been transferred from private to government ownership.

Best Interest

A principle that guides decisions by prioritizing the benefits and welfare of those affected over other considerations.