Gee Company's accounting records and financial statements reported the following:
Cash paid to acquire machinery............................$70,000
Proceeds from sale of land...................................80,000
Loss from the sale of land.....................................5,000
Cash paid to acquire a trademark...........................38,000
Treasury stock purchased for cash..........................50,000
Dividend revenue received..................................20,000
Gee prepares its financial statements in accordance with IFP$. In its statement of cash flows, Gee most likely reports net cash outflows from investing activities of:
a. 513,000.
b. 21,000.
c. 528,000.
d. 23,000.