Using financial statement data to determine cash flow from financing activities The following information pertaining to financing activities is available for Engineered Components Company for 2002.

Other Information 1. Dividends paid during the period amounted to $28,000.
2. Additional funds of $40,000 were borrowed during the period by issuing bonds.
Required

a. Compute the net cash flow from financing activities for 2002.

b. Prepare the cash flow from financing activities section of the statement of cash flows.