Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) 1. Acquired $3,800 cash from issuing common stock. 2. Borrowed $2,600 from a bank. 3. Earned $3,500 of revenues. 4. Incurred $2,480 in expenses. 5. Paid dividends of $480. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) 1. Acquired an additional $900 cash from the issue of common stock. 2. Repaid $1,580 of its debt to the bank. 3. Earned revenues, $4,900. 4. Incurred expenses of $2,910. 5. Paid dividends of $1,120. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice $1,800 outflow $1,800 inflow K

Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) 1. Acquired $3,800 cash from issuing common stock. 2. Borrowed $2,600 from a bank. 3. Earned $3,500 of revenues. 4. Incurred $2,480 in expenses. 5. Paid dividends of $480. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) 1. Acquired an additional $900 cash from the issue of common stock. 2. Repaid $1,580 of its debt to the bank. 3. Earned revenues, $4,900. 4. Incurred expenses of $2,910. 5. Paid dividends of $1,120. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice $1,800 outflow $1,800 inflow during Year 2: (Assume all transactions are cash transactions.) 1. Acquired an additional $900 cash from the issue of common stock. 2. Repaid $1,580 of its debt to the bank. 3. Earned revenues, $4,900. 4. Incurred expenses of $2,910. 5. Paid dividends of $1,120. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2? Multiple Choice $1,800 outflow $1,800 inflow $900 inflow $900 outflow