(Answered) Question - in preparing its cash flow statement for the

Accounting

Question - In preparing its cash flow statement for the year ended December 31, 2016, Red Co. gathered the following data:

Gain on sale of land	$12,000
Proceeds from sale of land	20,000
Purchased of Blue, Inc., bonds (face value $200,000)	360,000
Amortization of bond discount	4,000
Cash dividends declared	90,000
Cash dividends paid	76,000
Proceeds from sales of Red Co. common stock	150,000

In its December 31, 2016, statement of cash flows, what amount should Red report as net cash outflows from investing activities?

a. $340,000

b. $352,000

c. $376,000

d. $388,000

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