Company P Acquired 80% of the Outstanding Common Stock of the Company

Company P acquired 80% of the outstanding common stock of the Company S by issuing common stock with a market value of $550,000.The balance sheet of Company S was as follows on the acquisition date:
$$\begin{array} { l r l r } \text { Assets } & & \text { Liabilities and Equity } & \\\text { Cash } & \$ 50,000 & \text { Liabilities } & \$ 120,000 \\\text { Inventory } & 120,000 & \text { Common stock, } \$ 10 \text { par } & 100,000 \\\text { Land } & 100,000 & \text { Other paid-in capital } & 150,000 \\\text { Building (net) } & 350,000 & \text { Retained earnings } & 250,000 \\\quad \text { Total } & \$ \underline { 620,000 } & \text { Total } & \$ \underline { 620,000 }\end{array}$$ The market values were as follows: Inventory, $130,000; Land, $120,000; Building, $400,000.What is the amount that will appear as Cash Provided (Used) by Investing Activities on the consolidated statement of cash flows, as a result of this purchase?

A) $600,000
B) $500,000
C) $50,000
D) $0