Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.)1) Acquired $1950 cash from the issue of common stock. 2) Borrowed $1420 from a bank. 3) Earned $1600 of revenues cash. 4) Paid expenses of $450. 5) Paid a $250 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.)1) Issued an additional $1325 of common stock. 2) Repaid $920 of its debt to the bank. 3) Earned revenues of $1750 cash. 4) Incurred expenses of $760. 5) Paid dividends of $300. The net cash inflow from operating activities on Packard's statement of cash flows for Year 2 is:
A. $1025.
B. $1325.
C. $2055.
D. $990.
Answer: D
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