For the past two years, Mayfair Company’s statement of cash flows has shown net cash provided by investing activities. Which of the following strategic choices could explain this result? a....

For the past two years, Mayfair Company’s statement of cash flows has shown net cash provided by investing activities. Which of the following strategic choices could explain this result?

a. Divestiture of a significant operating division

b. Purchase of 29% of Fairview, Inc.’s common stock

c. Issue 100,000 shares of preferred stock

d. Payoff of the outstanding balance on a long-term loan