Cole Company began operations on January 1, 2011. During 2011, the company engaged in the following cash transactions:

1) issued stock for $30,000

2) borrowed $40,000 from its bank

3) sold merchandise for $32,000

4) paid back $11,700 of the bank loan

5) paid rent expense for $4,550

6) purchased equipment costing $7,550

7) paid $3,000 dividends to stockholders

8) paid employees' salaries, $12,700

What is Cole's cash flow from financing activities?

A)Inflow of $59,450

B)Inflow of $55,300

C)Outflow of $19,250

D)Outflow of $7,550