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Napier Co. provided the following information on selected transactions during 2011: Purchase of land by issuing bonds $250,000 Proceeds from issuing bonds 500,000 Purchases of

Napier Co. provided the following information on selected transactions during 2011:

Purchase of land by issuing bonds $250,000

Proceeds from issuing bonds 500,000

Purchases of inventory 950,000

Purchases of treasury stock 150,000

Loans made to affiliated corporations 350,000

Dividends paid to preferred stockholders 100,000

Proceeds from issuing preferred stock 400,000

Proceeds from sale of equipment 50,000

The net cash provided (used) by investing activities during 2011 is

A. $50,000.

B. $(300,000)

C. $(550,000).

D. $(1,250,000).

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