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Bassett, Inc. went into business on Oct. 1, 2020. Following are Bassett's transactions during 2020: Oct 1, 2020 - Bassett, Inc, formed and received $40,000

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Bassett, Inc. went into business on Oct. 1, 2020. Following are Bassett's transactions during 2020: Oct 1, 2020 - Bassett, Inc, formed and received $40,000 from its equity investors. Oct. 1, 2020 - Bassett borrowed $60,000 and agreed to pay $66,000 back on October 1, 2022 Nov. 1, 2020 - Purchased land for $60,000 cash. Nov. 1, 2020 - Purchased equipment (5-year useful life, no salvage value) for $24,000 cash. Nov. 1, 2020 - Paid 3 months rent on a building for $9,000. Nov. 5, 2020 - Purchased inventory costing $24,000 on account. Nov. 12, 2020 - Sold $18,000 of inventory for $56,000 on account. Nov. 25, 2020 - Collected $30,000 of the account receivable. . Nov. 25, 2020 - Paid the full amount of accounts payable Dec. 1, 2020 - Paid employees $12,000 in cash. Dec. 15, 2020 - Sold two-thirds of the land for $36,000. Dec. 26. 2020 - Received a utility bill for $2.600, which will be paid in January, 2021. Dec. 31. 2020 - Paid a dividend of $10,000. How much are Bassett's operating cash flows during 2020? ($15.000) ($21,000) ($3,000) ($25,000) None of the above

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