During 2013, Hanley Enterprises sold a piece of equipment with a book value of $50,000 for $65,000; declared preferred stock dividends of $23,000, payable on January 5, 2014; and borrowed $40,000 from...

During 2013, Hanley Enterprises sold a piece of equipment with a book value of $50,000 for $65,000; declared preferred stock dividends of $23,000, payable on January 5, 2014; and borrowed $40,000 from Lakeside Central Bank. Hanley’s cash flows provided by financing activities for 2013 was

a. $128,000.

b. $88,000.

c. $40,000.

d. $17,000.