Exhibit 22-3 the Balance Sheet Accounts and Other Information Related $\$ 40,000$

Exhibit 22-3 The balance sheet accounts and other information related to those accounts are presented below for Tony Company:
Additional information related to 2011 activities:
1. Net loss for 2011 was $\$ 40,000$ .
2. Cash dividends of $\$ 12,000$ were declared and paid in 2011.
3. 4,000 shares of comunon stock were issued to bonchalders converting bonds payable into common stock.
4. A long-term investment was sold for $\$ 100,000$ cash
5. Equipment costing $\$ 100,000$ and having accumulated depreciation of $\$ 30,000$ was sold for $\$ 50,000$ cash

-Refer to Exhibit 22-3.Net cash provided (used) in the financing activities section of Tony's 2011 statement of cash flows was

A) $ 0
B) $(12, 000)
C) $(52, 000)
D) $(32, 000)