Beta Company had the following transactions during 2020:

Issued 100,000 common stock at par value for cash

Repaid a 6 year note payable in the amount of 44,000

Acquired land by issuing common stock at par value of 200,000

Declared and paid a cash dividend of 4,000

Sold debt securities that have been recorded at fair value through other comprehensive income (cost 84,000) for cash of 12,000

Invested in XYZ Company by acquiring shares an for cash of 24,000

Based on the above information, the amount of net cash flows from financing activities is:

a. 36,000

b. None of the given answers is correct

c. 56,000

d. 100,000

e. 52,000