During year 1, Brianna Company had the following transactions related to its financial operations: Payment for the retirement of long-term bonds payable (carrying value $740,000) $750,000 Distribution in year 1 of cash dividend declared in year 0 to preferred shareholders $62,000 Carrying value of convertible preferred stock of Brianna converted into common shares $120,000 Proceeds from sale of treasury stock (carrying value at cost $86,000) $95,000 On its year 1 statement of cash flows, net cash used in financing activities should be: O A. $535,000 B. $716,000 O C. $717,000 OD. $597,000