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

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10 Salsedo Corporation's balance sheet and income statement appear Comparative Balance Sheet Ending BelanceBeginning Balance Assets Cosh and cash equlvalents Accounts recelvable $31 Property, plant and equipment Less accumulated depreciation Total assets Liablites and stockholders' equity Accounts payable Accrued abiltes Income taxes payable Bonds payable Common stock Retained eanings Total lablities and stockholders' equity 461 256 $42 S49 75 90 50 Income Statement $634 Cost of goods sold Gross margin Selling and administrative expense Net operating Income Galn on sale of equlpment Income before toxes 234 174 60 Net Income Cash dividends were $9 The company sold equipment for $15 thet was originally purchased for $10 and that had eccumulated depreciation of $5. It did not issue any bonds payable or repurchase any of its own common stock. The net cash provided by (used in) operating activities for the year was: $95 $94 O $85