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In Preparing Its Cash Flow Statement for the Year Ended

question 98

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In preparing its cash flow statement for the year ended December 31, 2018, Red Co. gathered the following data: Gain on sale of land $12,000Proceeds from sale of land 20,000Purchase of Blue, Inc., bonds (facevalue $200,000 )  360,000 Amortization of bond discount4,000Cash dividends declared 90,000 Cash dividends paid76,000 Proceeds from sales of Red Co. common stock150,000\begin{array}{lll}\text {Gain on sale of land }&\$12,000\\\text {Proceeds from sale of land }&20,000\\\text {Purchase of Blue, Inc., bonds (facevalue \( \$ 200,000 \) ) }&360,000\\\text { Amortization of bond discount}&4,000\\\text {Cash dividends declared }&90,000\\\text { Cash dividends paid}&76,000\\\text { Proceeds from sales of Red Co. common stock}&150,000\\\end{array}
In its December 31, 2018, statement of cash flows, what amount should Red report as net cash outflows from investing activities?

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