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X MC22-7 (similar to) Ques During year 1, Brianna Company had the following transactions related to its financial operations: Payment for the retirement of long-term bonds payable (carrying value $740,000) Distribution in year 1 of cash dividend declared in year 0 to preferred shareholders Carrying value of convertible preferred stock of Brianna converted into common shares Proceeds from sale of treasury stock (carrying value at cost $86,000) $750,000 $62,000 $120,000 $95,000 On its year 1 statement of cash flows, net cash used in financing activities should be: *A. $717,000 O B. $597,000 C. $716,000 OD. $535,000