Free Wheel Company's long-term investments have a beginning balance of $200,000 and an ending balance of $120,000. The company's income statement reports a gain on sale of long-term investments of $20,000. How much cash was received from the sale of long-term investments if no additional investments were purchased in the period. Select one: a. $60,000 b. $120,000 c. $80,000 d. $100,000