Ponti Company purchased the net assets of the Sorri Company for $800,000. The book value of the net assets of Sorri Company were as follows on the acquisition date:

Cash$ 50,000Inventory150,000Land150,000Building (net)400,000Liabilities(200,000) Net assets$550,000

The market values were as follows: Inventory, $160,000; Land, $170,000; Building, $450,000. The excess purchase price is allocated to goodwill. On the consolidated statement of cash flows, what is the amount that will appear as cash applied to investing as a result of this purchase?

Group of answer choices

a. $800,000

b. $670,000

c. $750,000

d. $720,000