Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percentowned subsidiary Oakley Co. follow:

Additional Information for Fiscal Year 2014

	Iverson and Oakleys consolidated net income was $60,750.
	Oakley paid $7,000 in dividends during the year. Iverson paid $12,000 in dividends.
	Oakley sold $20,900 worth of merchandise to Iverson during the year.
	There were no purchases or sales of long-term assets during the year.

In the 2014 consolidated statement of cash flows for Iverson Company:

		2014		2013
Cash	$	16,450	$	17,100
Accounts receivable (net)		59,000		37,000
Merchandise inventory		99,900		44,500
Buildings and equipment (net)		98,600		113,500
Trademark		97,600		120,500
Totals	$	371,550	$	332,600
Accounts payable	$	98,800	$	80,500
Notes payable, long-term		0		26,700
Noncontrolling interest		54,000		40,500
Common stock, $10 par		200,000		200,000
Retained earnings (deficit)		18,750		(15,100)
				totals : 371,550 332,600

In the 2014 consolidated statement of cash flows for Iverson Company:

Net cash flows from financing activities were

a. $(39,450).

b. $(53,600).

c. $(40,100).

d. $(38,700).