In Preparing Marjorie Company's Statement of Cash Flows for the Most

Multiple Choice

In preparing Marjorie Company's statement of cash flows for the most recent year, the following information is available: $\begin{array}{llr} \text { Purchase of equipment } &\$260,000\\ \text { Proceeds from the sale of equipment } &87,000\\ \text { Purchase of land } &91,000\end{array}$
Net cash flows from investing activities for the year were:

A) $438,000 of net cash provided.
B) $264,000 of net cash provided.
C) $438,000 of net cash used.
D) $351,000 of net cash used.
E) $264,000 of net cash used.