Question
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $29 $26 Accounts receivable 88 77 Inventory
Financial statements of Rukavina Corporation follow:
Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $29 $26
Accounts receivable 88 77
Inventory 44 36
Property, plant, and equipment 603 530
Less accumulated depreciation 347 304
Total assets $417 $365
Liabilities and stockholders' equity:
Accounts payable $46 $62
Bonds payable 120 160
Common stock 82 77
Retained earnings 169 66
Total liabilities and stockholders' equity $417 $365
Income Statement
Sales $730
Cost of goods sold 408
Gross margin 322
Selling and administrative expense 136
Net operating income 186
Income taxes 66
Net income $120
Cash dividends were $17. 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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