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The most recent balance sheet and income statement of Penaloza Corporation appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 47 49 36 474
The most recent balance sheet and income statement of Penaloza Corporation appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 47 49 36 474 250 $356 $ 39 55 39 370 218 $285 Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and equity $ 36 27 36 88 45 124 $ 35 25 44 80 40 61 $356 $285 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $773 468 305 189 116 Net operating income Income taxes 116 35 $ 81 Net income The company paid a cash dividend of $18. It did not dispose of any property, plant, and equipment. The company did not retire any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) financing activities for the year was
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