FlyCo Company has provided the following information for the year ended Dec 31, 2010:

• Cash paid for interest, $20,000;

• Cash paid for dividends, $6,000;

• Cash dividends received, $4,000;

• Cash borrowed from bank, $29,000;

• Cash purchase of treasury stock, $11,000;

• Cash paid for equipment purchase, $27,000;

• Cash received from the issuance of common stock in FlyCo, $37,000;

• Cash received from sale of land ($32,000 book value), $25,000;

• Acquisition of land costing $51,000 in exchange for preferred stock issuance.

How much was FlyCo’s net cash flow from investing activities?

a. A net outflow of $53,000

b. A net outflow of $2,000.

c. A net inflow of $49,000

d. A net inflow of $2,000.

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