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The Foundational 15 (Algo) [LO13-1, LO13-2]

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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:

	Ending Balance	Beginning Balance
Cash & cash equivalents	$ 105,400	$ 126,650
Accounts receivable	83,700	90,200
Inventory	112,400	102,500
Total current assets	301,500	319,350
Property, plant, and equipment	297,000	287,000
Less accumulated depreciation	99,000	71,750
Net property, plant, and equipment	198,000	215,250
Total assets	$ 499,500	$ 534,600
Accounts payable	$ 65,600	$ 116,500
Income taxes payable	50,900	68,600
Bonds payable	123,000	102,500
Common stock	143,500	123,000
Retained earnings	116,500	124,000
Total liabilities and stockholders equity	$ 499,500	$ 534,600

During the year, Ravenna paid a $12,300 cash dividend and it sold a piece of equipment for $6,150 that had originally cost $14,400 and had accumulated depreciation of $9,600. The company did not retire any bonds or repurchase any of its own common stock during the year.

Foundational 13-11 (Algo)

11. What is the amount of net cash provided by (used in) operating activities in the companys statement of cash flows?