Santa Fe Company Was Started on January 1, Year 1

Multiple Choice

Santa Fe Company was started on January 1, Year 1, when it acquired $9,400 cash by issuing common stock. During Year 1, the company earned cash revenues of $5,600, paid cash expenses of $3,450, and paid a cash dividend of $1,000. Which of the following is true based on this information?

A) The Year 1 statement of cash flows would show net cash inflow from operating activities of $5,600.
B) The December 31, Year 1 balance sheet would show total equity of $8,400.
C) The Year 1 income statement would show net income of $1,150.
D) The Year 1 statement of cash flows would show a net cash inflow from financing activities of $8,400.