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Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Beginning Balance Balance Assets : Cash and cash equivalents $ 76 $ 69 Accounts receivable
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Beginning Balance Balance Assets : Cash and cash equivalents $ 76 $ 69 Accounts receivable 102 107 Inventory 76 77 Property, plant, and equipment 596 570 Less accumulated depreciation 298 285 Total assets $ 552 $ 538 Liabilities and stockholders' equity: Accounts payable $ 134 $ 103 Bonds payable 386 130 Common stock 102 101 Retained earnings (70 ) (96) Total liabilities and stockholders' equity $ 552 $ 538 Income Statement Sales $ 730 Cost of goods sold 511 Gross margin 219 Selling and administrative expense 146 Net operating income 73 Income taxes 22 Net income $ 51 Cash dividends were $25. 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:Cash dividends were $25. 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: Multiple Choice O $44 O $96 O $101 O $93
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