Use the Following Information for Questions 18-19 During 2020, Land Was Acquired in Exchange for Common Shares

Use the following information for questions 18-19.
The statements of financial position for King Lear Corp. at the end of 2020 and 2019 are as follows: $\begin{array}{ll}\text{} & 2020 \quad \quad \quad 2019 & \\\text{Cash ......................................................................................... } & \text{\$75,000 \quad 105,000} \\\text{Accounts receivable (net) ..........................................................} & \text{\$180,000 \quad135,000} \\\text{Merchandise inventory..............................................................} & \text{\$210,000 \quad 135,000} \\\text{Prepaid expenses.......................................................................} & \text{\$30,000 \quad 75,000} \\\text{Land..........................................................................................} & \text{\$270,000 \quad 120,000} \\\text{Buildings and equipment...........................................................} & \text{\$270,000 \quad 225,000} \\\text{Accumulated depreciation - buildings and quipment.................} & \text{\$(54,000 ) \quad (24,000) } \\\text{Total Assets..............................................................................} & \text{\$(981,000) \quad (771,000) } \\ \text{} & \quad \quad \quad & \\\text{Accounts payable ...................................................................... } & \text{\$204,000 \quad 165,000} \\\text{Salaries Payable.........................................................................} & \text{\$36,000 \quad54,000} \\\text{Notes Payable - long- term ......................................................} & \text{\ \quad \quad \quad \quad 120,000} \\\text{Mortgage Payable.......................................................................} & \text{\$90,000 \quad } \\\text{Common shares ...............................................................} & \text{\$627,000 \quad 477,000} \\\text{Retained earning ( deficit ) ...........................................................} & \text{\$270,000 \quad 225,000} \\\text{Accumulated depreciation - buildings and quipment.................} & \text{\$24,000 \quad (45,000) } \\\text{Total Liabilities and Shareholders Equite ...... .....................} & \text{\$981,000 \quad 771,000 } \\\end{array}$

During 2020, land was acquired in exchange for common shares (which had a market value of $ 150,000 at the time) . All equipment purchased was for cash. Equipment costing $ 15,000 was sold for $ 6,000 cash; book value of the equipment at the time of sale was $ 12,000, and the loss was included in net income. Cash dividends of $ 30,000 were declared and paid during the year. King adheres to ASPE and uses the indirect method when preparing the statement of cash flows.
-The cash provided by (used in) financing activities was

A) $ 90,000.
B) $ (30,000) .
C) $ (60,000) .
D) $ 0.