Jean's Vegetable Market had the following transactions during 2016:
1) Issued $50000 of par value common stock for cash.
2) Repaid a 6 year note payable in the amount of $22000.
3) Acquired land by issuing common stock of par value $100000.
4) Declared and paid a cash dividend of $2000.
5) Sold a long-term investment (cost $3000) for cash of $8000.
6) Acquired an investment in IBM stock for cash of $15000.
What is the net cash provided (used) by investing activities?
A) $15000
B) $33000
C) ($7000)
D) $8000
Correct Answer:
Verified
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