Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) 1. Acquired $4600 cash from issuing common stock. 2. Borrowed $3000 from a bank. 3. Earned $3900 of revenues. 4. Incurred $2560 in expenses. 5. Paid dividends of $560. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) 1. Acquired an additional $1300 cash from the issue of common stock. 2. Repaid $1860 of its debt to the bank. 3. Earned revenues, $5300. 4. Incurred expenses of $3070. 5. Paid dividends of $1600. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2?
A. $2160 outflow
B. $2160 inflow
C. $1300 inflow
D. $300 outflow
Answer: A
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