. Net income = $1.120,000 Depreciation expense for the year = $27,000 Decrease in inventory = $13,800 Increase in taxes payable = $1,500 Issuance of common stock = $60,000 Dividends paid = $32,300 Purchase of land = $28,300 Investment in associate = $58,000 Purchase of held-for-trading securities = $7,200 Sale of available-for-sale securities = $84,700 . Assume the company uses U.S. GAAP to prepare its financial statements. The company's cash flow from financing activities is closest to: $92,300 $60.000 $27.700