Francois water corporation issued common stock of $28,000 to pay off long term note payable of $28,000. In what section(s) would these transactions be recorded on the statement of cash flows?

A- financing activities section for payment of note payable of $28,000

B- financing activities section for cash receipt of $28,000

C- non-cash investing and financing activities of $28,000

D- operating activities section for cash receipt of $28,000

E- none of the answers is correct