During the month of August, Boyce Company had the following transactions:

* Revenues of $120,000 were earned and received in cash.

* Bank loans of $18,000 were paid off. * Equipment of $40,000 was purchased with cash.

* Expenses of $73,600 were paid.

* Stockholders purchased additional shares for $44,000 cash.

Refer to the information above. A statement of cash flows for August, would report net cash flows from investing activities of:

A.) ($26,000).

B.) $32,400.

C.) ($40,000).

D.) $46,400.