During the month of May, Henderson Company had the following transactions: 1. (1) Revenues of $52,000 were earned and received in cash. 2. (2) Bank loans of $3,000 were paid off. 3. (3) Equipment of $12,000 was purchased. 4. (4) Expenses of $32,800 were paid. 5. (5) Stockholders purchased additional shares for $14,000 cash. A statement of cash flows for May would report net cash flows from operating activities of: Group of answer choices $52,000. $18,200. $19,200. $37,000