Question
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance SheetEnding BalanceBeginning BalanceAssets:Current assets:Cash and cash equivalents$66$47Accounts receivable5666Inventory8666Total current assets208179Property, plant, and equipment580560Less accumulated
Marbry Corporation's balance sheet and income statement appear below:
Comparative Balance SheetEnding BalanceBeginning BalanceAssets:Current assets:Cash and cash equivalents$66$47Accounts receivable5666Inventory8666Total current assets208179Property, plant, and equipment580560Less accumulated depreciation279266Net property, plant, and equipment301294Total assets$509$473Liabilities and stockholders' equity:Current liabilities:Accounts payable$79$61Accrued liabilities5232Income taxes payable6161Total current liabilities192154Bonds payable93152Total liabilities285306Stockholders' equity:Common stock5546Retained earnings169121Total stockholders' equity224167Total liabilities and stockholders' equity$509$473
Income StatementSales$783Cost of goods sold581Gross margin202Selling and administrative expense132Net operating income70Gain on sale of plant and equipment25Income before taxes95Income taxes35Net income$60
Cash dividends were $12. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year was
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