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Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 46 $ 47 Accounts receivable 69

Financial statements of Rukavina Corporation follow:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 46 $ 47
Accounts receivable 69 74
Inventory 54 55
Property, plant, and equipment 486 460
Less accumulated depreciation 243 230
Total assets $ 412 $ 406
Liabilities and stockholders' equity:
Accounts payable $ 101 $ 81
Bonds payable 276 320
Common stock 91 90
Retained earnings (56 ) (85 )
Total liabilities and stockholders' equity $ 412 $ 406

Income Statement
Sales $ 620
Cost of goods sold 434
Gross margin 186
Selling and administrative expense 124
Net operating income 62
Income taxes 19
Net income $ 43

Cash dividends were $14. 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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