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Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 33 67 $ 26 68 Assets: Current assets:
Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 33 67 $ 26 68 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 54 65 154 673 315 358 $512 159 520 293 227 $386 $ 35 19 29 $ 34 18 29 Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity 83 81 36 119 50 131 30 33 360 393 225 255 Total liabilities and stockholders' equity $512 $386 $1,206 795 411 178 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment Income before taxes Income taxes Net income 233 17 250 75 $ 175 Cash dividends were $40. The company sold equipment for $19 that was originally purchased for $6 and that had accumulated depreciation of $4. The net cash provided by (used in) investing activities for the year was: Multiple Choice $140 ($159) ($140) $19
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