Question
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 24 $ 21 Accounts receivable 77
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 24 $ 21 Accounts receivable 77 72 Inventory 33 31 Property, plant, and equipment 528 480 Less accumulated depreciation 326 299 Total assets $ 336 $ 305 Liabilities and stockholders' equity: Accounts payable $ 42 $ 52 Bonds payable 95 110 Common stock 71 72 Retained earnings 128 71 Total liabilities and stockholders' equity $ 336 $ 305 Income Statement Sales $ 705 Cost of goods sold 448 Gross margin 257 Selling and administrative expense 151 Net operating income 106 Income taxes 38 Net income $ 68 Cash dividends were $11. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) investing activities for the year was:
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