In preparing Marjorie Company's statement of cash flows for the most recent year, the following information is available:
Purchase of equipment $260,000
Proceeds from the sale of equipment $87,000
Purchase of land $91,000
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.
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