Carriveau Corporation's most recent balance sheet appears below: Comparative...

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Accounting

Carriveau Corporation's most recent balance sheet appears below:

Comparative Balance Sheet

Ending Balance

Beginning Balance

Assets:

Current assets:

Cash and cash equivalents

$

35

$

24

Accounts receivable

33

27

Inventory

45

53

Total current assets

113

104

Property, plant, and equipment

742

539

Less accumulated depreciation

266

250

Net property, plant, and equipment

476

289

Total assets

$

589

$

393

Liabilities and stockholders' equity:

Current liabilities:

Accounts payable

$

50

$

54

Accrued liabilities

15

11

Income taxes payable

38

28

Total current liabilities

103

93

Bonds payable

134

193

Total liabilities

237

286

Stockholders equity:

Common stock

80

75

Retained earnings

272

32

Total stockholders equity

352

107

Total liabilities and stockholders' equity

$

589

$

393

Net income for the year was $295. Cash dividends were $55. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was:

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