Use the following balance sheet and additional information for Jamaica year toanswer # 49-52, all pertaining to its Statement of Cash Flows: Income Statement for 2018 S 380,000 (120,000 2017 S 42,000 $ 31,000Sales Revenue Accounts Receivable Inventory 73,000 75,000 40,000 Cost of Coods Sold Salaries Expense 75,000 70,000 15,000 Depreciation Expense (40,000) Building and Equipment (Accumulated Depreciation) Land (12,000) (3,000 550,000 400,000Interest Epense l 15,000) (75,000) Loss on Sale of Land 50,000 9,000Income Tax Expense 715,000 $ 575,000 Net Income Liabilities Accounts Payable Salaries Payabk Interest Payable Income Tax Payable Notes Payable Bonds Payable S 28,000 35,000 2,000 5,000 9.000 3,000 12.000 30,000 100,000 160,000 Common Stock, SI par Paid-in Capital- Exess of par Retained Eamings 255,000 161,000 200,000 100,000 95,000 90,000 Additional Information from the accounting records: a. Land that originally cost $9,000 was sold for $6,000. b. The common stock of News Corp. was purchased for $25,000 as a long-term investment. c. New equipment was purchased for $150,000 cash. d. A $30,000 note was paid at maturity on January 1. e. On January 1, 2018, S60,000 of bonds were sold at face value f Common stock ($50,000 par) was sold for $76,000. In May, Jamaica Inc. issued a 5% stock dividend (5,000 shares). The market price of the Si par value common stock was $8 per share at that time. Net Income was $80,000 and cash dividends of $35,000 were paid to shareholders. g. h. 49. The Net cash provided by (or used for) operating activities during 2018 was: A. $ 149,000 B. $ 79,000 C. S 109,000 D. S 76,000 16