Given the Following Information,determine the Amount of Cash Flows from Investing

Multiple Choice

Given the following information,determine the amount of cash flows from investing and financing activities.
$$\begin{array} { | l | r | } \hline \text { Net income } & \$ 50,000 \\\hline \text { Loss on sale of plant assets } & 15,000 \\\hline \text { Cash received from sale of plant assets } & 26,000 \\\hline \text { Cash received from issuine stock } & 70,000 \\\hline \text { Increase in income taxes payable } & 120,000\\\hline \end{array}$$

A)
Cash provided by investing activities, $\$ 11,000$
Cash provided by financing activities, $\$ 70,000$
B)
Cash used by investirg activities, $\$ 11,000$
Cash used by Financing activities, $\$ 70,000$
C)
Cash provided by investirg activities, $\$ 26,000$
Cash provided by financing activities, $\$ 55,000$
D)
Cash used by investing activities, $\$ 26,000$
Cash used by Financing activities, $\$ 55,000$
E)
Cash provided by investing activities, $\$ 26,000$
Cash provided by financing activities, $\$ 70,000$