During 2015, Stout Inc. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Stout, converted into common shares of Stout $ 360,000 Payment in 2015 of cash dividend declared in 2014 to preferred shareholders 186,000 Payment for the early retirement of long-term bonds payable (carrying amount $2,620,000) 2,650,000 Proceeds from the sale of treasury stock (on books at cost of $258,000) 300,000 The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2015 should be
- $2,176,000.
- $2,548,000.
- $2,536,000.
- $1,990,000.