Use the following balance sheet excerpts to answer questions 3-5. Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets 2016 $ 200,000 804,000 2,000,000 $3,004,000 6,000,000 $9.004.000 2015 $ 170,000 700,000 1,400,000 $2,270,000 5,600,000 $7.870.000 Liabilities and equity: Accounts payable Notes payable to bank Total current liabilities Long-term debt Common stock Retained earnings Total common equity Total liabilities and equity $1,400,000 1,600,000 $3,000,000 2,400,000 3,000,000 664,000 $3,604,000 $9.004.000 $1,090,000 1,800,000 $2,890,000 2,400,000 2,000,000 580,000 $2.580,000 $7.870.000 3. If the firm did not pay dividends in 2016, what was the net income for that year? (8) 4. Did the firm borrow or repay any loans in 2016? 5. How much new investment did the firm make in net operating working capital in 2016