Question
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 25 $ 22 Accounts receivable 79
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 25 $ 22 Accounts receivable 79 73 Inventory 36 32 Property, plant, and equipment 543 490 Less accumulated depreciation 328 300 Total assets $ 355 $ 317 Liabilities and stockholders' equity: Accounts payable $ 41 $ 54 Bonds payable 100 120 Common stock 79 73 Retained earnings 135 70 Total liabilities and stockholders' equity $ 355 $ 317 Income Statement Sales $ 710 Cost of goods sold 455 Gross margin 255 Selling and administrative expense 136 Net operating income 119 Income taxes 42 Net income $ 77 Cash dividends were $12. 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:
Multiple Choice $(53) $53 $(12) $12
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