APS Company issued 20,000 shares of $1 par common stock for $40 per share during 2017. The company paid cash dividends of $48,000, sold an old machine for $3000 and issued long-term notes payable of $440,000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?

		$1,195,000 net cash inflow.
		$352,000 net cash inflow.
		$705,000 net cash outflow.
		$1,192,000 net cash inflow.