Comparative balance sheets for 2020 and 2019 and an income statement for 2020 are provided below for Boston Industries. Additional information from the accounting records of Boston is provided. Comparative Balance Sheets December 31, 2020 and 2019 ( in thousands) 2020 2019 Assets: Cash $ 1,800 $1,125 Accounts receivable 1,800 1,350 Inventory 2,700 1.575 Prepaid Insurance 30 10 Land 2,025 1.800 Building 2,700 2,700 Less: Accumulated depreciation (810) Equipment 8.550 6,750 Less: Accumulated depreciation (1.575) (1,440) Patent 3.600 4.500 $20.730 $17.560 Liabilities: Accounts payable $ 2.280 $ 1,360 Accrued operating expenses payable 900 675 Note Payable-land 450 0 Shareholders' Equity: Common stock 9,450 9,000 Paid-in capital excess of par 2.250 2,025 Retained earnings 5.400 4.500 $20.730 $17.560 (900) $8,205 Income Statement For year ended December 31, 2020 (S in thousands) Revenues: Sales revenue $7.935 Gain on sale of land 270 Expenses: Cost of goods sold Depreciation expense-building 90 Depreciation expense-equipment 945 Loss on sale of equipment 45 Amortization of patent 900 Insurance expense 50 Operating expenses 1.450 Net income $1,800 5.280 $2.925 Additional information from the accounting records: a. During 2020, equipment with a cost of $900,000 (related accumulated depreciation is $810,000) was sold. b. The Retained Earnings account reveals reductions of $675,000 and $1,350,000 for stock dividends and cash dividends, respectively. c. During 2020, land of S450,000 was purchased and a note payable of $450,000 was issued. 2. Determine cash inflows or cash outflows (negative) from financing activities (2 points) Description Amount Net cash flows from financing activities