Use the following information for the next two (2) questions:

Napier Company provided the following information on selected transactions during 2020:

Purchase of land by issuing bonds 250,000

Proceeds from issuing bonds 500,000

Purchases of inventory 950,000

Purchases of treasury shares 150,000

Loans made to affiliated corporations 350,000

Dividends paid to preference shareholders 400,000

Proceeds from sale of equipment 50,000

19) The net cash provided (used) by investing activities during 2020 is

A. 50,000 provided B. 300,000 used C. 550,000 used D. 1,250,000 used

20) The net cash provided by financing activities during 2020 is

A. 550,000 provided B. 650,000 provided C. 800,000 provided D. 900,000 provided