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 $ 44 $ 45 Accounts receivable 77 76 Inventory 56 54 Total current assets 177 175 Property, plant and equipment 632 525 Less: accumulated depreciation 247 280 Net property, plant and equipment 385 245 Total assets $562 $420 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 51 $ 55 Accrued liabilities 28 27 Income taxes payable 56 60 Total current liabilities 135 142 Bonds payable 71 65 Total liabilities 206 207 Stockholder's equity: Common stock 46 45 Retained earnings 310 168 Total stockholder's equity 356 213 Total liabilities and stockholders' equity $562 $420 Income Statement Sales $850 Cost of goods sold 501 Gross margin 349 Selling and administrative expenses 139 Net operating income 210 Gain on sale of plant and equipment 29 Income before taxes 239 Income taxes 72 Net income $ 167 Cash dividends were $25. The company sold equipment for $47 that was originally purchased for $25 and that had accumulated depreciation of $7. The net cash provided by (used in) investing activities for the year was:
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