In preparing Marjorie Company's statement of cash flows for the most recent year, the following information is available:
|
Purchase of equipment
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$260,000
|
|
Proceeds from the sale of equipment
|
$87,000
|
|
Purchase of land
|
$91,000
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Net cash flows from investing activities for the year were:
a. $438,000 of net cash used.
b. $438,000 of net cash provided.
c. $264,000 of net cash used.
d. $351,000 of net cash used.
e. $264,000 of net cash provided.