JJ Company's accountant is preparing the statement of cash flows for the year just ended. The following information is available: Retained earnings balance at the beginning of the $ 156,000 year Retained earnings balance at the end of the year $ 180,000 Net profit for the year $ 72,000 Assuming that all declared dividends were paid, what was the cash flow under financing activities recorded by the accountant? Cash inflow of $ 48.000 Cash outflow of $48.000 Cash inflow of $ 96,000 None, dividends paid are reported under investing activities Cash outflow of $ 96.000