The following transactions occurred last year at Jolly Corporation:Issuance of shares of the company's own common stock$ 120,000Dividends paid to the company's own shareholders$ 1,000Sale of long-term investment$ 7,000Interest paid to lenders$ 13,000Retirement of the company's own bonds payable$ 60,000Proceeds from sale of the company's used equipment$ 8,000Purchase of property$ 170,000Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be:
A. $(109,000)
B. $46,000
C. $179,000
D. $59,000
Answer: D
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