In preparing its cash flow statement for the year ended December 31, 2016, Red Co. gathered the following data: Gain on sale of land $12,000 Proceeds from sale of land 20,000 Purchase of Blue, Inc., bonds (face value $200,000) 360,000 Amortization of bond discount 4,000 Cash dividends declared 90,000 Cash dividends paid 76,000 Proceeds from sales of Red Co. common stock 150,000.
In its December 31, 2016, statement of cash flows, what amount should Red report as net cash outflows from investing activities? A. 340,000. B. $352,000 C. $376,000 D. $388,000.