Mccloe Corporation's balance sheet and income statement appear below: Mccloe Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $ 42 $ 35 Accounts receivable 49 54 Inventory 62 54 Total current assets 153 143 Property, plant and equipment 470 440 Less: accumulated depreciation 262 254 Net property, plant, and equipment 208 186 Total assets $361 $329 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 55 $ 49 Accrued liabilities 28 20 Income taxes payable 49 49 Total current liabilities 132 118 Bonds payable 113 128 Total liabilities 245 246 Stockholders' equity: Common stock 46 34 Retained earnings 70 49 Total stockholders' equity 116 83 Total liabilities and stockholders' equity $361 $329 Income Statement Sales $433 Cost of goods sold 231 Gross margin 202 Selling and administrative expenses 168 Net operating income 34 Gain on sale of plant and equipment 14 Income before taxes 48 Income taxes 18 Net income $ 30 Cash dividends were $9. 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 $(12) $(15) $(9) $12