A company sold common stock for proceeds of $386,000 during 2020. The company paid dividends of $80,000 and issued a long-term note payable for $95,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $15,000. The financing section of the statement of cash flows will report net cash inflows of

1. $291,000.
2. $481,000.
3. $306,000.
4. $371,000.