During 2021, entity I had the following activities related to its financial operations:

Payment for the early retirement of bonds payable

(carrying amount of bonds payable 5,000,000) 5,500,000

Distribution in 2021 of cash dividend declared in 2020 3,000,000

Carrying amount of convertible preference shares

Converted in to ordinary shares 2,000,000

Proceeds from sale of treasury shares (cost of 2,000,000) 2,500,000

In the 2021 statement of cash flows, net cash used in financing activities should be