Cash flows from operating activities Cash received from customers 125000 Deduct cash payments for expenses 67500 Net cash flows from operating activities m Cash flows used in investing activities Cash payment for purchase of land 175000 Cash flows from financing activities Cash received from sale of capital stock 75000 Cash received from issuing notes payable n o Deduct cash dividends 12000 Net cash flows from financing activities p Net increase in cash q December 1 20Y4 cash balance