During the month of August, Boyce Company had the following transactions: * Revenues of $130,000 were earned and received in cash. * Bank loans of $25,500 were paid off. * Equipment of $50,000 was purchased with cash. * Expenses of 78,600 were paid. * Stockholders purchased additional shares for $54,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of:

Multiple Choice $28,500.

$29,900.

$50,000.

Incorrect $51,400.