McCorey Corporation recorded the following events last year: On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.Based solely on the information above, the net cash provided by (used in) financing activities on the statement of cash flows would be:

A) $(70,000)
B) $70,000
C) $(130,000)
D) $130,000

We are not given any information that specifically identifies an event as related to financing activities. However, we can make some inferences based on the information given. The change in notes payable indicates that there was an increase in debt during the year, which is considered a financing activity. Additionally, the decrease in common stock indicates that the company may have repurchased some of its own shares or paid dividends, both of which are also considered financing activities. Adding these together, we get a net cash used in financing activities of $130,000.