Given the Following Information,determine the Amount of Cash Flows from Investing

Given the following information,determine the amount of cash flows from investing and financing activities.
$$\begin{array} { | l | r | } \hline \text { Net income } & \$ 50,000 \\\hline \text { Loss on sale of plant assets } & 15,000 \\\hline \text { Cash received from sale of plant assets } & 26,000 \\\hline \text { Cash received from issuing stock } & 70,000 \\\hline \text { Increase in income taxes payable } & 120,000\\\hline\end{array}$$

A) Cash provided by investing activities, $\$ 11,000$
Cash provided by financing activities, $\$ 70,000$

B) Cash used by investing activities, $\$ 11,000$
Cash used by financing activities, $\$ 70,000$

C) Cash provided by investing activities, $\$ 26,000$
Cash provided by financing activities, $\$ 55,000$

D) Cash used by investing activities, $\$ 26,000$
Cash used by financing activities, $\$ 55,000$

E) Cash provided by investing activities, $\$ 26,000$
Cash provided by financing activities, $\$ 70,000$