Consider the following events:

25,000 shares of preferred stock, cumulative, 5%, $30 par was issued for $45 a share.The annual cash dividend was declared and paid to the above preferred stock.The company purchased 12,000 shares of common stock at $51 per share to be held as Treasury stock.Interest of $24,000 was paid to bondholders.Bonds Payable with a par value of $300,000 were retired at $324,000.

Compute the net cash flow from financing activities (parentheses indicate an outflow).