Hocking Corporation's comparative balance sheet appears below:

Hocking Corporation Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$ 58,000	$ 38,000
Accounts receivable	32,200	38,000
Inventory	73,800	68,000
Prepaid expenses	25,200	28,000
Total current assets	189,200	172,000
Property, plant, and equipment	376,000	348,000
Less accumulated depreciation	198,000	166,000
Net property, plant, and equipment	178,000	182,000
Total assets	$367,200	$354,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 33,800	$ 29,000
Accrued liabilities	77,800	68,000
Income taxes payable	61,800	58,000
Total current liabilities	173,400	155,000
Bonds payable	60,000	88,000
Total liabilities	233,400	243,000
Stockholders' equity:
Common stock	46,300	49,000
Retained earnings	87,500	62,000
Total stockholders' equity	133,800	111,000
Total liabilities and stockholders' equity	$367,200	$354,000

The company's net income (loss) for the year was $32,000 and its cash dividends were $6,500. It did not sell or retire any property, plant, and equipment during the year.

The company's net cash used in investing activities is:

	$37,800
	$28,000
	$60,000
	$4,000