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Talent Co had the following activities during 2020:
- Patent amortization recognized amounted to $30,000.
- Plant assets costing $4,000 were purchased with cash.
- Sold a long-term investment in another companys common stock for $5,000.
- Borrowed $40,000 cash for capital projects on a note payable.
- Paid a cash dividend of $5,000.
- Depreciation recognized amounted to $80,000.
- Purchased land for $85,000 cash.
- Issued common stock, $1 par, for $200,000.
- Purchased a patent for $5,000.
- Purchased treasury stock, $3,500
What is Talent Cos Net Cash provided or used by investing and financing activities for 2020?
| | a. | $125,000 Net cash used in investing activities & $231,500 Net cash provided by financing activities |
| | b. | $125,000 Net cash used in investing activities &$238,500 Net cash provided by financing activities |
| | c. | $130,000 Net cash used in investing activities &$231,500 Net cash used by financing activities |
| | d. | $40 Net cash used in investing activities &$230,000 Net cash used in financing activities |
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