The following items are relevant to the preparation of a statement of cash flows for Tropical Products Inc.

1. Sale of common stock, $900,000.

2. Retirement of bonds payable, $639,000.

3. Purchase of land, $18,000.

4. Sale of equipment for $43,200, at a loss of $9,000.

5. Purchase of equity securities (not held in a trading account), $18,000.

6. Declaration of cash dividends, $72,000.

7. Loan of $54,000 resulting in a note receivable, nontrade.

8. Purchase of a patent, $36,000.

9. Proceeds from the issuance of a short-term nontrade note, $18,000.

a.) Determine the amount of net cash flows that would be reported in the investing section of a statement of cash flows.

b.) Determine the amount of net cash flows that would be reported in the financing section of a statement of cash flows.