Davidson Company experienced the following events during the year:

1. Issued common stock for $30,000 cash

2. Borrowed $25,000 cash from First Bank.

3. Purchased $10,000 of treasury stock.

4. Paid $8,000 cash for dividends.

What is the effect of these transactions on Davidson Company's statement of cash flows?

	a.	$37,000 cash inflow from investing activities
	b.	$37,000 cash inflow from financing activities
	c.	$47,000 cash inflow from financing activities and $10,000 cash outflow from investing activities
	d.	$55,000 cash inflow from financing activities and $18,000 cash outflow from investing activities