Upon review of Jan's Lakeside Resort statement of cash flows, the following was noted: Cash flows from operating activities $ 35,000 Cash flows from investing activities 75,000 Cash flows from financing activities (125,000) From this information, the most likely explanation is that Jan is
a. using cash from operations and selling long-term assets to pay back debt
b. using cash from operations and borrowing to purchase long-term assets.
c. using its profits to expand growth.
d. using cash from investors to provide for operations.
a
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Indicate whether the statement is true or false