In 2015, Valencia Company purchased equipment for $363,000 and also sold some special purpose machinery with a book value of $155,000 for $182,000 . In its statement of cash flows for 2015, Valencia should report the following with respect to the above transactions:
a. $363,000 cash used by operating activities; $182,000 cash provided by financing activities.
b. $181,000 net cash used by investing activities.
c. $181,000 net cash used by investing activities; $27,000 net cash provided by operating activities.
d. $363,000 net cash used by investing activities.
b
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