On January $1,$ Year $1,$ Hardy Company had a balance of $$115,000$ in its Common Stock account. During Year $1,$ Hardy paid $$35,700$ to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December $31,$ Year $1,$ was $$143,000.$ Assume that the common stock is no par stock.

Required

a$.$ Determine the cash inflow from the issue of common stock.

Cash inflow from the issue of common stock

b$.$ Prepare the financing activities section of the Year $1$ statement of cash flows.

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$Cash flows from financing activities:,$],[,],[,],[$Net cash flow from financing activities,$]]$