Given the following information, determine the amount of cash flows from investing and financing activities.
Net Income: 50000
Loss on sale of plant assets: 15000
Cash received from sale of plant assets: 26000
Cash received from issuing stock: 70000
Increase in income taxes payable: 120000
A). Cash provided by investing activities $11000
Cash provided by financing activities $70000
B). Cash used by investing activities $11000
Cash used by financing activities $70000

C). Cash provided by investing activities $26000
Cash provided by financing activities $55000

D). Cash used by investing activities $26000
Cash used by financing activities $55000
E). Cash provided by investing activities $26000
Cash provided by financing activities $70000