Information concerning the debt of Cole Company is as follows: Short-term borrowings: Balance at December 31, 2017 $525,000 Proceeds from borrowings in 2018 325,000 Payments made in 2018 (450,000) Balance at December 31, 2018 $400,000 Current portion of long-term debt: Balance at December 31, 2017 $1,625,000 Transfers from caption "Long-Term Debt" 500,000 Payments made in 2018 (1,225,000) Balance at December 31, 2018 $ 900,000 Long-term debt: Balance at December 31, 2017 $9,000,000 Proceeds from borrowings in 2018 2,250,000 Transfers to caption "Current Portion of Long-Term Debt" (500,000) Payments made in 2018 (1,500,000) Balance at December 31, 2018 $9,250,000 In preparing a statement of cash flows for the year ended December 31, 2018, for Cole Company, cash flows from financing activities would reflect $2,000,000 $2,250,000 $2,575,000 $3,175,000