Baker Corporation conducted the following activities during 2001: (1) they sold 10,000 shares of their own stock for $20.00 per share; (2) they issued bonds for which they received $500,000; (3) they paid dividends to their stockholders totaling $85,000; (4) they sold a piece of equipment for $50,000 that they were carrying on their books for $20,000; (5) they earned net income of $140,000. What would be shown on the Statement of Cash Flows for "cash from financing activities" based on the information above?

A) $615,000
B) $650,000
C) $655,000
D) $700,000
E) $740,000

Statement of Cash Flows

A financial document that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.

Financing Activities

Transactions a company engages in to finance its operations and expansions, such as issuing equity, taking on debt, or repaying loans, reported in the cash flow statement.

Dividends

Payments made by a corporation to its shareholder members, typically distributed from profits.