18 Mattix Corporation

18. Mattix Corporation's balance sheet and income statement appear below Comparative Balance Sheet Ending Balance Beginning Balance Cash and cash equivalents $23 $22 40 Accounts receivable 500 347 $259 587 Property, plant and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity Accounts payable Accrued liabilities Income taxes payable $26 18 40 $30 15 109 51 89 120 Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 50 $259 Income Statement $972 620 352 200 152 14 166 50 Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of equipment Income before taxes Income taxes Net income $116 The company sold equipment for $20 that was originally purchased for $7 and that had accumulated depreciation of $1. It paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock Required: Determine the net cash provided by (used in) operating activities for the year