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Harkey Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents $ 34 $
Harkey Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Cash and cash equivalents $ 34 $ 38 Accounts receivable 78 73 Inventory 43 46 Property, plant, and equipment 452 392 Less accumulated depreciation 211 174 Total assets $ 396 $ 375 Liabilities and stockholders' equity: Accounts payable $ 28 $ 29 Accrued liabilities 30 26 Income taxes payable 43 37 Bonds payable 125 173 Common stock 88 86 96936 Retained earnings 82 24 Total liabilities and stockholders' equity $ 396 $ 375 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of equipment Income before taxes Income taxes Net income $ 1,060 658 402 176 226 11 237 50 187 Cash dividends were $129. The company sold equipment for $15 that was originally purchased for $6 and that had accumulated depreciation of $2. Required: Using the direct method, determine the net cash provided by (used in) operating activities. Net cash provided (used in) operating activities _
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