Smith and Associates had $70,000 in cash at year-end 2012 and $35,000 in cash at year-end 2013. Cash flow from long-term operating activities totaled $270,000, and cash flow from investing activities totaled $80,000. What was the cash flow from financing activities?

a. $155,000 b. $85,000 c. $225,000 d. $225,000 e. $155,000