The balance in retained earnings at December 31, 2020 was $1431000 and at December 31, 2021 was $1160000. Net income for 2021 was $1049000. A stock dividend was declared and distributed which increased common stock $491000 and paid-in capital $56000. A cash dividend was declared and paid. The stock dividend should be reported on the statement of cash flows (indirect method) as an outflow from financing activities of $491000. O an outflow from investing activities of $547000. an outflow from financing activities of $547000. Stock dividends are not shown on a statement of cash flows.