The balance sheet data of Bonita Industries at the end of 2018 and 2017 follow:

2018 2017

Cash $ 106000 $ 142000

Accounts receivable (net) 238000 181000

Inventory 278000 180000

Prepaid expenses 40000 108000

Buildings and equipment 360000 300000

Accumulated depreciationbuildings and equipment(71000 ) (30000)

Land 358000 159000

Totals $1309000 $1040000

Accounts payable $271000 $222000

Accrued expenses 49000 71000

Notes payablebank, long-term 159000

Mortgage payable 121000

Common stock, $10 par 835000 648000

Retained earnings (deficit) 33000 (60000)

$1309000 $1040000

Land was acquired for $199000 in exchange for common stock, par $187000, during the year; all equipment purchased was for cash. Equipment costing $24000 was sold for $8000; book value of the equipment was $18000 and the loss was reported as an ordinary item in net income. Cash dividends of $28000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 2018, for Bonita Industries The net cash provided (used) by investing activities was

learn how to use investing activices to solve