You boss has asked you to evaluate the year-end balance sheets for Daniel's Karate Studios:

Assets:	2017	2016
Cash	$ 200,000	$ 170,000
Accounts receivable	964,000	800,000
Inventories	2,000,000	1,400,000
Total current assets	$3,164,000	$2,370,000
Net fixed assets	6,000,000	5,600,000
Total assets	$9,164,000	$7,970,000
Liabilities and equity:
Accounts payable	$1,400,000	$1,090,000
Notes payable	1,600,000	1,800,000
Total current liabilities	$3,000,000	$2,890,000
Long-term debt	2,500,000	2,500,000
Common stock	3,000,000	2,000,000
Retained earnings	664,000	580,000
Total common equity	$3,664,000	$2,580,000
Total liabilities and equity	$9,164,000	$7,970,000

Assume that the company's sales in 2016 and 2017 were equal.

Which of the following statements must be CORRECT?

Daniel's increased its notes payable bank debt in 2017.

Daniel's had negative net income in 2017.

Daniel's issued long-term debt in 2017.

Daniel's issued new common stock in 2017.

Daniel's repurchased some common stock in 2017.