Given the Following Information,determine the Amount of Cash Flows from Investing

question 47

Multiple Choice

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

• 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, \( \$ 70,000 \)

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