The Smirnoff Corporation prepared the following comparative balance sheets at December 31, 2017 and 2016: 12/31/17 12/31/16 Cash $ 77,375 $ (22,955 ) Marketable securities 15,500 85,000 Accounts receivable 80,000 68,250 Inventory 165,000 145,000 Prepaid insurance 1,500 2,000 Land, buildings, and equipment 1,250,000 1,125,000 Accumulated depreciation (610,000 ) (572,000 ) Total assets $ 979,375 $ 830,295 Accounts payable $ 76,340 $ 102,760 Salaries payable 20,000 24,500 Notes payable 25,000 75,000 Bonds payable 200,000 0 Common stock 300,000 300,000 Retained earnings 358,035 328,035 Total liabilities and shareholders' equity $ 979,375 $ 830,295

Additional information for the year ended December 31, 2017: (1.) Sold available-for-sale securities costing $69,500 for $74,000. (2.) Equipment costing $20,000, with a book value of $5,000, was sold for $6,000. (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 $20,000. (7.) Net income for 2017 was $50,000. (8.) Smirnoff prepares its cash flows statement under the indirect method.

_____ 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.