Yi Company began operations on January 1, 2013. During 2013, the company engaged in the following cash transactions:

1) Issued stock for $40,000

2) Borrowed $25,000 from its bank

3) Provided consulting services for $38,000

4) paid back $15,000 of the bank loan

5) Paid rent expense for $9,000

6) Purchased equipment costing $12,000

7) Paid $3,000 dividends to stockholders

8) Paid employees' salaries, $21,000

What is Yi's net cash flow from investing activities?

Inflow of $40,000

Inflow of $28,000

Outflow of $37,000

Outflow of $12,000