Use the Following Information for Questions

Use the following information for questions.
The balance in retained earnings at December 31, 2010 was $720,000 and at December 31, 2011 was $582,000.Net income for 2011 was $500,000.A share dividend was declared and distributed which increased sharecapital $200,000 and share premium $110,000.A cash dividend was declared and paid.
-The share dividend should be reported on the statement of cash flows (indirect method) as

A) an outflow from financing activities of $200,000.
B) an outflow from financing activities of $310,000.
C) an outflow from investing activities of $310,000.
D) Share dividends are not shown on a statement of cash flows.