Question - In preparing its cash flow statement for the year ended December 31, 2016, Red Co. gathered the following data:
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Gain on sale of land
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$12,000
|
|
Proceeds from sale of land
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20,000
|
|
Purchased of Blue, Inc., bonds (face value $200,000)
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360,000
|
|
Amortization of bond discount
|
4,000
|
|
Cash dividends declared
|
90,000
|
|
Cash dividends paid
|
76,000
|
|
Proceeds from sales of Red Co. common stock
|
150,000
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In its December 31, 2016, statement of cash flows, what amount should Red report as net cash outflows from investing activities?
a. $340,000
b. $352,000
c. $376,000
d. $388,000