Flow Company has provided the following information for the year ended December 31, 2019:

• Cash paid for interest, $18,000
• Cash paid for dividends, $7,400
• Cash dividends received, $5,400
• Cash proceeds from bank loan, $25,000
• Cash purchase of treasury stock, $9,000
• Cash paid for equipment purchase, $25,000
• Cash received from issuance of common stock, $35,000
• Cash received from sale of land with a $30,000 book value, $23,400
• Acquisition of land costing $49,000 in exchange for preferred stock issuance.
• Payment of a $170,000 note payable by exchanging used machinery with a $75,000 book value and $170,000 fair value.

How much was Flow's net cash flow from financing activities?

Multiple Choice

• A net inflow of $25,000.

• A net outflow of $45,200.

• A net inflow of $43,600.

• A net outflow of $50,600.