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The following information on selected cash transactions for 2020 has been provided by Mancuso Company:
Proceeds from sale of land 160,000Proceeds from long-term borrowings 400,000Purchases of plant assets 144,000Purchases of inventories 680,000Proceeds from sale of Mancuso ordinary shares 240,000
Problem 1: What is the cash provided or used by investing activities for the year ended December 31, 2020 as a result of the above information?
A. 16,000 B. 256,000
C. 160,000
D. 800,000
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