During 20X4, Grinnell Company refinanced its long-term debt. It spent $66,000 to retire long-term debt due in 3 years and issued $100,000 of 10-year bonds at par. The company then bought and retired common shares of stock for cash of $35,000. Interest expense for 20X4 was $21,000, of which $17,000 was paid in cash; the other $4,000 was still payable at the end of the year. Dividends declared and paid during the year were $12,500. Determine net cash flows from financing activities.