A company uses the direct method to prepare its Statement of Cash Flows. The Cash balance on December 31, 2005 was $51,600. For the year ended December 31, 2006, Net Cash Flows provided by operating activities was $150,750 and Net Cash Flows used by Financing Activities was $46,800. Determine the net cash provided or (used) by Investing Activities if the cash balance on December 31, 2006 was $194,550. 1) Cannot be determined 2) ($7,800) 3) $54,600 4) $39,000