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Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance $ 39 72 Assets: Current assets: Cash and cash
Autry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance $ 39 72 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 51 162 582 237 $ 40 71 49 160 500 270 230 $390 345 $507 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 Total liabilities and stockholders' equity $ 46 23 51 120 96 216 $ 50 22 55 127 90 217 71 220 291 70 103 173 $507 $390 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 $800 476 324 147 177 19 196 59 $137 Net income Cash dividends were $20. The company sold equipment for $37 that was originally purchased for $20 and that had accumulated depreciation of $2. The net cash provided by (used in) investing activities for the year was: Multiple Choice $37 O $(65) O O $65 o $(102)
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