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[The following information applies to the questions displayed below.) Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities
[The following information applies to the questions displayed below.) 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: Cashi Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Ending Balance Beginning Balance $ 97,200 77,600 $116,700 83,600 104,200 95,000 279,000 295,300 276,000 266,000 92,000 66,500 184,000 $ 463,000 $ 60,800 Income taxes payable Bonds payable Common stock Retained earnings 108,000 47,200 114,000 133,000 199,500 $494,800 $ 100,000 62,800 95,000 114,000 115,000 Total liabilities and stockholders' equity $463,000 $494,800 During the year, Ravenna paid a $11,400 cash dividend and it sold a piece of equipment for $5,700 that had originally cost $13,200 and had accumulated depreciation of $8,800. The company did not retire any bonds or repurchase any of its own common stock during the year. 13. What is the company's net cash provided by (used in) investing activities? Net cash Investing activities
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