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  3. progressive corporation had the following transact

Progressive Corporation had the following transactions during 2022: 1. Issued stock for cash of $300,000...

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Accounting

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Progressive Corporation had the following transactions during 2022: 1. Issued stock for cash of $300,000 2. Increase in accounts receivable of $120,000. 3. Acquired land by issuing common stock valued at $1,000,000. 4. Paid a cash dividend of $20,000. 5. Sold a small parcel of land for $6,000 (original cost was also $6,000). 6. Recorded cash sales of $800,000 during the year. 7. Decrease in inventory of $320,000. 8. Purchased a building for cash of $42,000. 9. Converted bonds payable to common stock valued at $1,000,000. 10. Repaid a 6-year note payable in the amount of $440,000. What is the net cash provided by investing activities? a) none of the choices are correct b) $864,000. c) ($86,000). Od) ($36,000). e) $424,000

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