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Tatum Company prepared a Statement of Cash Flows for the year ending 12-31-19 using the indirect method. Tatum's net cash flows from operating activities were $300,000. Three additional information items follow: On 12-31-19, Tatum leased a machine with a useful life of 4 years. The lease agreement required Tatum to make 4 annual lease payments of $40,000 starting 12- 31-19. Tatum's borrowing rate on 12-31-18 was 4%. During 2019, Tatum used $250,000 to purchase additional fixed assets. From the beginning of 2019 to the end of 2019, Tatum's equity investments account (net of any fair value adjustment account) increased by $105,000. During 2018 and 2019, Tatum had the following three equity investments. (a) Tatum's 2% ownership in Kim Company. Kim is a publicly-traded company. Tatum purchased the stock on 12-01-18 for $5,000. As of 12-31-18, the fair value of the Kim stock was $5,400. On 03-31-19. Tatus sold the Kim stock for $6,000. (b) Tatum's 3% ownership in Susan Company. Susan is a publicly-traded company. Tatum purchased the stock on 10-31-19 for $10,000. As of 12-31-19, the fair value of the Susan stock was $9,800. (c) Tatum's 40% ownership in Joe Company. Tatum purchased the stock on 01-01-19 for $100,000. For the year ended 12-31-19, Joe Company reported net income of $10,000. During the year ended 12-31-19 Joe Company distributed cash dividends. For the year ended 12-31-19, what were Tatum's cash flows used in investing activities? $104,000 $203,000 $250,000 d $350,600 er O $354,000 Tatum Company prepared a Statement of Cash Flows for the year ending 12-31-19 using the indirect method. Tatum's net cash flows from operating activities were $300,000. Three additional information items follow: On 12-31-19, Tatum leased a machine with a useful life of 4 years. The lease agreement required Tatum to make 4 annual lease payments of $40,000 starting 12- 31-19. Tatum's borrowing rate on 12-31-18 was 4%. During 2019, Tatum used $250,000 to purchase additional fixed assets. From the beginning of 2019 to the end of 2019, Tatum's equity investments account (net of any fair value adjustment account) increased by $105,000. During 2018 and 2019, Tatum had the following three equity investments. (a) Tatum's 2% ownership in Kim Company. Kim is a publicly-traded company. Tatum purchased the stock on 12-01-18 for $5,000. As of 12-31-18, the fair value of the Kim stock was $5,400. On 03-31-19. Tatus sold the Kim stock for $6,000. (b) Tatum's 3% ownership in Susan Company. Susan is a publicly-traded company. Tatum purchased the stock on 10-31-19 for $10,000. As of 12-31-19, the fair value of the Susan stock was $9,800. (c) Tatum's 40% ownership in Joe Company. Tatum purchased the stock on 01-01-19 for $100,000. For the year ended 12-31-19, Joe Company reported net income of $10,000. During the year ended 12-31-19 Joe Company distributed cash dividends. For the year ended 12-31-19, what were Tatum's cash flows used in investing activities? $104,000 $203,000 $250,000 d $350,600 er O $354,000
