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Lakeview Inc. transactions for the year ended December 31, 2019 included the following: Purchased real estate for $1,250,000 cash which was borrowed from a bank.
Lakeview Inc. transactions for the year ended December 31, 2019 included the following:
- Purchased real estate for $1,250,000 cash which was borrowed from a bank.
- Sold debt investments for $1,000,000.
- Paid dividends of $1,200,000.
- Issued 500 shares of common stock for $500,000.
- Purchased machinery and equipment for $250,000cash.
- Paid $900,000 toward a bank loan.
- Reduced accounts receivable by $200,000.
- Increased accounts payable $400,000.
Lakeview'snet cash used in investing activities for 2019 was
a.$750,000
b.$500,000
c.$1,500,000
d.$250,000
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