Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $950 cash from the issue of common stock 2) Borrowed $420 from a bank 3) Earned $650 of revenues 4) Pald expenses of $250. 5) Paid a $50 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $325 of common stock 2) Repaid 5220 of its debt to the bank. 3) Earned revenues of $750. 4) incurred expenses of $360 5) Paid dividends of $100 The amount of total liabilities on Packard's Year 1 balance sheet is $420 $200 $340 $670 What is the net cash inflow from operating activities that will be reported on Packard's statement of cash flows for Year 1? $820 $650 $350 $400