Upon review of Mack's Statement of Cash Flows, the following was noted: Cash flows from operating activities
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Question:
Upon review of Mack's Statement of Cash Flows, the following was noted:
| Cash flows from operating activities | $15,000 |
| Cash flows from investing activities | 70,000 |
| Cash flows from financing activities | (50,000) |
From this information, the most likely explanation is that Mack 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
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