Use the Following Information for Questions 24-25 Other Information Relating to 2020 Activities:
1

Use the following information for questions 24-25.
Malcolm Corp.'s statements of financial position at December 31, 2020 and 2019 and information relating to 2020 activities are presented below: $\begin{array}{ll} &\text{ {December 31,} } \\&\text{ \underline{\text{ 2020 }} } &\text{\underline{\text{ 2019 }} } \\\text{ {\underline{\text{ Assets}} }} \\ \quad\text{ Cash } .......................................................................... & \$ 110,000 & \$ 50,000 \\\quad\text{ Temporary investments }............................................. & 150,000 & - \\\quad\text{ Accounts receivable (net) } ...........................................& 255,000 & 255,000 \\\quad\text{ Inventory } .................................................................... & 345,000 & 300,000 \\\quad\text{ Long-term investments } ............................................... & 100,000 & 150,000 \\\quad\text{ Property, plant and equipment } ................................... & 850,000 & 500,000 \\\quad\text{ Accumulated depreciation } ...........................................& (225,000) & (225,000) \\\quad\text{Goodwill } ....................................................................... & 45,000 & 50,000 \\\quad\quad\text{ Total assets } & \underline{\text{ \$ 1,630,000 }} & \underline{\text{ \$ 1,080,000}} \\\\\text{ { \underline{\text{ Liabilities and Shareholders' Equity }} } } \\\quad\text{ Accounts payable }........................................................... & \$ 415,000 & \$ 360,000 \\\quad\text{ Long-term note payable} ................................................. & 145,000 & - \\\quad\text{ Common shares} .............................................................. & 600,000 & 475,000 \\\quad\text{ Retained earnings } ........................................................& \underline{\text{ 470,000 }}& \underline{\text{ 245,000 }} \\\quad\text{ Total liabilities and shar eholders' equity } ...................... & \underline{\text{\underline{\text{ \$1,630,000 }} }}& \underline{\text{ \underline{\text{ \$1,080,000}} }} \\ \end{array}$ Other information relating to 2020 activities:
1. Net income was $ 375,000.
2. Cash dividends of $ 150,000 were declared and paid.
3. Equipment costing $ 250,000, with a book value of $ 80,000, was sold for $ 90,000.
4. A long-term investment was sold for $ 80,000. There were no other transactions affecting long-term investments.
5. 5,000 common shares were issued for $ 25 a share.
6. Temporary investments consist of treasury bills maturing on June 30, 2021.
-The cash provided by financing activities in 2020 was

A) $ 420,000.
B) $ 270,000.
C) $ 130,000.
D) $ 120,000.