Problems 7 and 8 are based on the following information. Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Additional Information for Fiscal Year 2021 - Iverson and Oakley's consolidated net income was $45,000. - Oakley paid \$5,000 in dividends during the year. Iverson paid $12,000 in dividends. - There were no purchases or sales of long-term assets during the year. In the 2021 consolidated statement of cash flows for Iverson Company: 7. Net cash flows from operating activities were a. $12,000. b. $20,000. c. $24,000. d. $25,000. 8. Net cash flows from financing activities were a. $(25,000). b. $(37.000) c. $(38,000). d. $(42,000)