Use the following information for the next four (4) questions:

Piccolo Company provided the following information for the year ended December 31, 2015:

Increase in long-term debt 600,000

Purchase of treasury shares 500,000

Depreciation and amortization 1,900,000

Gain on sale of equipment 100,000

Proceeds from issuance of ordinary shares 2,000,000

Purchase of equipment for cash 4,000,000

Proceeds from sale of equipment 400,000

Payment of dividends 700,000

Net income 4,500,000

Increase (decrease) in working capital accounts:

Accounts receivable 1,500,000

Inventory (800,000)

Trade notes payable 1,000,000

Accounts payable 1,200,000

Income tax payable (300,000)

Cash balance, January 1, 2015 1,500,000

10) What is the net cash provided by operating activities?

A. 7,700,000 B. 7,600,000 C. 7,500,000 D. 6,800,000

11) What is the net cash used by investing activities?

A. 4,300,000 B. 4,000,000 C. 3,600,000 D. 400,000

12) What is the net cash provided by financing activities?

A. 2,100,000 B. 1,400,000 C. 1,100,000 D. 800,000

13) What it the cash balance on December 31, 2015?

A. 8,900,000 B. 7,500,000 C. 6,800,000 D. 5,300,000