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Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents $ 69 Accounts receivable 111 $
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents $ 69 Accounts receivable 111 $ 75 116 Inventory 82 83 Property, plant, and equipment 656 600 Less accumulated depreciation 328 300 Total assets $ 590 $ 574 Liabilities and stockholders' equity: Accounts payable $ 143 $109 Bonds payable 416 460 Common stock 105 104 Retained earnings Total liabilities and stockholders' equity (74) (99) $ 590 $ 574 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 760 532 228 152 76 23 $ 53 Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 328 $ 590 300 $ 574 $ 143 $ 109 416 460 105 104 (74) (99) $ 590 $ 574 Income Statement Sales $ 760 Cost of goods sold 532 Gross margin 228 Selling and administrative expense 152 76 23 $ 53 Net operating income Income taxes Net income Cash dividends were $28. 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) operating activities for the year was:
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