Please show work and explain where nessecery.

5 Net cash flows from operating activities on the cash flows statement for 2017 are?

A) Negative $17,670.

B) Positive $35,330.

C) Positive $39,830.

D) Negative $70,670.

6 Net cash flows from investing activities on the cash flows statement for 2017 are?

A) Negative $225,000.

B) Negative $65,000.

C) Negative $70,500.

D) Negative $145,000.

7 Net cash flows from financing activities on the cash flows statement for 2017 are?

A) Negative $130,000.

B) Positive $150,000.

C) Positive $130,000.

D) Negative $70,000.

Use the following to answer questions 5 through 7: The Smirnoff Corporation prepared the following comparative balance sheets at December 31, 2017 and 2016 12/31/17 S 77,375 15,500 80,000 165,000 12/31/16 Cash Marketable securities Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation Total assets S (22,955) 85,000 68,250 145,000 2,000 1,125,000 1,500 1,250,000 (610,000) S 979,375 (572,000) S 830,295 Accounts payable Salaries payable Notes payable Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity S 76,340 20,000 25,000 200,000 300,000 358,035 S 979,375 S 102,760 24,500 75,000 0 300,000 328,03 S 830,295 Additional information for the year ended December 31, 2017: (1.) Sold available-for-sale securities costing S69,500 for $74,000 (2.) Equipment costing $20,000, with a book value of $5,000, was sold for S6,000 (3) Issued 6% bonds payable at par (4.) Repaid a portion of a long term bank loan. (5.) Purchased new equipment for $145,000 cash. (6.) Paid cash dividends of S20,000 (7.) Net income for 2017 was $50,000 (8.) Smirnoff prepares its cash flows statement under the indirect method