Use the following to answer questions 5 through 7: Smirnoff Corporation prepared the following comparative balance sheets at December 31, 2017 & 2016 12/31/17 S 77,375 15,500 80,000 165,000 1,500 1,250,000 12/31/16 S (22,955) 85,000 68,250 145,000 2,000 1,125,000 Cash Marketable securities Accounts receivable Inventory Prepaid insurance Land, buildings, & equipment Accumulated depreciation Total assets S 979,375 S 830,295 S 102,760 24,500 75,000 0 300,000 Accounts payable Salaries pavable Notes payable Bonds payable Common stock Retained earnings Total liabilities & shareholder equity S 76,340 20,000 25,000 200,000 300,000 S 830,295 S 979,375 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 5. Net cash flows from operating activities on the cash flows statement for 2017 are? A) Negative $17,670. C) Positive $39,830. B) Positive $35,330 D) Negative $70,670. 6. Net cash flows from investing activities on the cash flows statement for 2017 are? A) Negative $225,000 C) Negative $70,500 B) Negative $65,000 D) Negative $145,000 7. Net cash flows from financing activities on the cash flows statement for 2017 are? A) Negative $130,000 C) Positive $130,000. B) Positive $150,000 D) Negative $70,000