Reference no: EM132809844

Problem 1: Thessalon Co. at January 1, 2019 had retained earnings of $600,000 and $50,000 in cash. In the year 2019 it made a net income of $400,000; recorded an amortization expense of $250,000; issued additional common shares for $600,000 and borrowed $600,000 from the Bar Ontario; bought new plant and equipment at a cost of $1,200,000 and sold some unused land for $400,000. For the 2019 year Investing Activity generated cash of

Select one:

a. $600,000

b. $800,000

c. ($600,000)

d. ($800,000)