Reference no: EM132607291

Red Ox Corporation's net income for the year ended December 31, 20X4, was $128,000. Red Ox has elected to report any interest paid as operating activities and any dividends paid as financing activities.

Additional data for the 20X4 fiscal year is as follows:

1. Red Ox issued a bond for $95,000.
2. Depreciation expense for the 20X4 fiscal year was $12,000.
3. The balance for the company's bank loan as at December 31, 20X3, was $240,000. The balance as at December 31, 20X4, was $215,000.
4. Interest expense paid in the year was $3,000.
5. Red Ox issued 500 common shares for $80 per share.
6. Red Ox sold 10,000 shares in one of its investments, Blue Horn Inc., for $26,000.
7. Red Ox declared a dividend of $16,000 that is to be paid on January 4, 20X5.

Question 1: What are Red Ox's net cash inflows from financing activities for the 20X4 fiscal year?

a) $ 94,000

b) $107,000

c) $110,000

d) $136,000