The Natural Company's cash balance at December 31, 20X1, was $195,000.

Net Income	$ 414,000
Depreciation	128,000
Increase in Accounts Receivable	62,500
Increase in Inventory	138,000
Decrease in Accounts Payable	43,600
Dividends Paid to Shareholders	27,250
Proceeds from Sale of Common Stock	545,000
Repayment of Bonds Payable	245,000
Proceeds of Sale of Equipment with Book Value of $102,000	63,500
Purchase of Land and Building	390,000

The Natural Company's Statement of Cash Flows would report Cash Flows from Financing Activities totaling:

Multiple Choice

$326,500

$390,000

$545,000

$272,750