The following activities were performed by L&M corporation during the year 2015.

• Accounts payable paid: $585,000
• Accounts receivable collected: $50,000
• Dividends paid: $170000
• Loan repayment: $340,000
• Common stock issued: $175,000
• Notes payable issued: $20,000
• Depreciation expense: $30,000
• Net income after tax: $870000
• Inventory sold: $30,000

Compute net cash provided/used by financing activities to be reported in the statement of cash flows of L&M corporation.