Jones Inc. recognized the following balances in its financial records:

Account	Dec. 31, 2019	Dec. 31, 2020
Dividends payable	$40,000	$10,000
Retained earnings	200,000	275,000

Jones Inc. reported net income of $155,000 in 2020. Based on this information, what is the effect on the financing activities section of the statement of cash flows?

Select one:

a. Cash outflow of $80,000

b. Cash outflow of $110,000

c. Cash outflow of $50,000

d. Cash outflow of $30,000