Question - In 2017, Baxter Company sold used equipment for $17,000. The equipment had an original cost of $80,000 and accumulated depreciation as of the date of sale was $60,000. Baxter also purchased held-for-maturity securities for $7,000. Net income for the year was $66,000 after deducting $8,000 in depreciation expense. There were no other transactions conducted during the period. What are the 2017 operating cash flows for Baxter?
$77,000
$74,000
$71,000
$64,000