Carriveau Corporation's most recent balance sheet appears below:

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	40		$	29
Accounts receivable		36			25
Inventory		50			63
Total current assets		126			117
Property, plant, and equipment		767			550
Less accumulated depreciation		280			260
Net property, plant, and equipment		487			290
Total assets	$	613		$	407
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	55		$	67
Accrued liabilities		20			16
Income taxes payable		43			28
Total current liabilities		118			111
Bonds payable		113			179
Total liabilities		231			290
Stockholders equity:
Common stock		85			80
Retained earnings		297			37
Total stockholders equity		382			117
Total liabilities and stockholders' equity	$	613		$	407

Net income for the year was $320. Cash dividends were $60. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was:

Multiple Choice

• $349

• $29

• $449

• $291