A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Increase in salaries payable, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Increase in accounts receivable, $120,000 What amount would be reported for net financing cash flows in the statement of cash flows?

Multiple Choice

• A $70,000.

• B $40,000.

• C ($20,000).

• D $155,000. and why please