Reference no: EM132490389

Flow Company has provided the following information for the year ended December 31, 2019:

1. Cash paid for interest, $22,000
2. Cash paid for dividends, $6,400
3. Cash dividends received, $4,400
4. Cash proceeds from bank loan, $33,000
5. Cash purchase of treasury stock, $13,000
6. Cash paid for equipment purchase, $29,000
7. Cash received from issuance of common stock, $39,000
8. Cash received from sale of land with a $34,000 book value, $26,600
9. Acquisition of land costing $53,000 in exchange for preferred stock issuance.
10. Payment of $120,000 note payable by exchanging used machinery with a $79,000 book value and $120,000 fair value

Question 1: How much was Flow's net cash flow from investing activities?

Option 1: A net outflow of $55,400

Option 2: A net inflow of $52,600

Option 3: A net outflow of $2,400.

Option 4: A net inflow of $2,400.