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3) MC Qu. 104 The most recent balance sheet ...

The most recent balance sheet and income statement of Penaloza Corporation appear below:

Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Cash and cash equivalents	$47	$39
Accounts receivable	49	55
Inventory	36	39
Property, plant and equipment	474	370
Less accumulated depreciation	250	218
Total assets	$356	$285
Liabilities and stockholders equity:
Accounts payable	$36	$35
Accrued liabilities	27	25
Income taxes payable	36	44
Bonds payable	88	80
Common stock	45	40
Retained earnings	124	61
Total liabilities and equity	$356	$285

Income Statement
Sales	$773
Cost of goods sold	468
Gross margin	305
Selling and administrative expense	189
Net operating income	116
Income taxes	35
Net income	$81

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) investing activities for the year was:

A)$104

B)($72)

C)($104)

D)$72

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