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Autry Corporation's balance sheet and income statement appear below: Autry Corporation's Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents

Autry Corporation's balance sheet and income statement appear below: Autry Corporation's Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 37 $ 38 Accounts receivable 70 69 Inventory 49 47 Total current assets 156 154 Property, plant and equipment 562 490 Less: accumulated depreciation 233 266 Net property, plant and equipment 329 224 Total assets $485 $378 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 44 $ 48 Accrued liabilities 21 20 Income taxes payable 49 53 Total current liabilities 114 121 Bonds payable 86 80 Total liabilities 200 201 Stockholder's equity: Common stock 61 60 Retained earnings 224 117 Total stockholder's equity 285 177 Total liabilities and stockholders' equity $485 $378 Income Statement Sales $780 Cost of goods sold 466 Gross margin 314 Selling and administrative expenses 161 Net operating income 153 Gain on sale of plant and equipment 25 Income before taxes 178 Income taxes 53 Net income $ 125 Cash dividends were $18. The company sold equipment for $33 that was originally purchased for $18 and that had accumulated depreciation of $10. The net cash provided by (used in) investing activities for the year was: $(90) $(57) $57 $33

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