Question
Financial statements of Rukavina Corporation follow: Rukavina Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $38 $35 Accounts receivable 94
Financial statements of Rukavina Corporation follow: Rukavina Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $38 $35 Accounts receivable 94 86 Inventory 53 45 Property, plant and equipment 738 620 Less: accumulated depreciation 358 313 Total assets $565 $473 Liabilities and stockholders' equity: Accounts payable $71 $80 Bonds payable 165 250 Common stock 104 86 Retained earnings 225 57 Total liabilities and stockholders' equity $565 $473 Income Statement Sales $775 Cost of goods sold 371 Gross margin 404 Selling and administrative expenses 104 Net operating income 300 Income taxes 107 Net income $193 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) investing activities for the year was: $(118) $(25) $(85) $18
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