Question
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 37 $ 34 Accounts receivable 92
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 37 $ 34 Accounts receivable 92 85 Inventory 51 44 Property, plant, and equipment 723 610 Less accumulated depreciation 356 312 Total assets $ 547 $ 461 Liabilities and stockholders' equity: Accounts payable $ 70 $ 78 Bonds payable 160 240 Common stock 102 85 Retained earnings 215 58 Total liabilities and stockholders' equity $ 547 $ 461 Income Statement Sales $ 770 Cost of goods sold 380 Gross margin 390 Selling and administrative expense 110 Net operating income 280 Income taxes 99 Net income $ 181 Cash dividends were $24. 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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