The statements of financial position for King Lear Corp. at the end of 2020 and 2019 are as follows:

		2020		2019
Cash		$ 75,000		$105,000
Accounts receivable (net)		180,000		135,000
Merchandise inventory		210,000		135,000
Prepaid expenses		30,000		75,000
Land		270,000		120,000
Buildings and equipment		270,000		225,000
Accumulated depreciationbuildings and equipment		(54,000)		(24,000)
Total Assets		$981,000		$771,000
Accounts payable		$204,000		$165,000
Salaries payable		36,000		54,000
Notes payablelong-term				120,000
Mortgage payable		90,000
Common shares		627,000		477,000
Retained earnings (deficit)		24,000		(45,000)
Total Liabilities & Shareholders Equity		$981,000		$771,000

During 2020, land was acquired in exchange for common shares (which had a market value of $150,000 at the time). All equipment purchased was for cash. Equipment costing $15,000 was sold for $6,000 cash; book value of the equipment at the time of sale was $12,000, and the loss was included in net income. Cash dividends of $30,000 were declared and paid during the year. King adheres to ASPE and uses the indirect method when preparing the statement of cash flows. The cash provided by (used in) financing activities was

$90,000.

$(60,000).

$0.

$(30,000).