Marbry Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$ 48	$ 38
Accounts receivable	49	57
Inventory	68	57
Total current assets	165	152
Property, plant, and equipment	485	470
Less accumulated depreciation	265	257
Net property, plant, and equipment	220	213
Total assets	$ 385	$ 365
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$ 61	$ 52
Accrued liabilities	34	23
Income taxes payable	52	52
Total current liabilities	147	127
Bonds payable	105	134
Total liabilities	252	261
Stockholders equity:
Common stock	52	37
Retained earnings	81	67
Total stockholders equity	133	104
Total liabilities and stockholders' equity	$ 385	$ 365

Income Statement
Sales	$ 620
Cost of goods sold	380
Gross margin	240
Selling and administrative expense	216
Net operating income	24
Gain on sale of plant and equipment	18
Income before taxes	42
Income taxes	15
Net income	$ 27

Cash dividends were $13. 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:rev: 05_24_2013_QC_31013, 02_04_2020_QC_CS-198538

Multiple Choice

• $(27)

• $29

• $15

• $(13)