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Financial statements of Rukavina Corporation follow: Rukavina Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $52 $51 Accounts receivable 75

Financial statements of Rukavina Corporation follow:

Rukavina Corporation Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $52 $51
Accounts receivable 75 80
Inventory 58 59
Property, plant and equipment 506 480
Less: accumulated depreciation

253

240

Total assets

$438

$430

Liabilities and stockholders' equity:
Accounts payable $107 $85
Bonds payable 296 340
Common stock 93 92
Retained earnings

(58)

(87)

Total liabilities and stockholders' equity

$438

$430

Income Statement
Sales $640
Cost of goods sold

448

Gross margin 192
Selling and administrative expenses

128

Net operating income 64
Income taxes

19

Net income

$45

Cash dividends were $16. 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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