In preparing its cash flow statements for the year ended december 31, 2013, red co. gathered the following data: gain on sale of land: $12,000proceeds from sale of land: $20,000purchase of blue inc. bonds (face value $200,000): $360,000amortization of bond discount: $4,000cash dividends declared: $90,000cash dividends paid: $76,000proceeds from sales of red co. common stock: $150,000in its december 31, 2013, statement of cash flows, what amount should red co report as net cash outflows from investing activities? a) $376,000b) $388,000c) $340,000d) $352,000$340,000$20,000-$360,000= $340,000