[The Following Information Applies to the Questions Displayed Below

[The following information applies to the questions displayed below.]
During the month of August,Boyce Company had the following transactions:
(1) Revenues of $120,000 were earned and received in cash.
(2) Bank loans of $18,000 were paid off.
(3) Equipment of $40,000 was purchased with cash.
(4) Expenses of $73,600 were paid.
(5) Stockholders purchased additional shares for $44,000 cash.
-A statement of cash flows for August would report net cash flows from operating activities of:

A) $26,000.
B) $32,400.
C) $40,000.
D) $46,400.