Data for selected transactions for Dustin Inc. during 2016:

Proceeds from issuance of ordinary shares $ 400,000

Proceeds from issuance of bonds 1,200,000

Cash dividends on ordinary shares paid 160,000

Cash dividends on preference shares paid 60,000

Purchase of treasury shares 120,000

Sale of ordinary shares to employees not included above 100,000

Dustin's statement of cash flows for the year ended December 31, 2016, would show net cash provided or used by financing activities of how much? Please show working