Financial statements of Rukavina Corporation follow: Comparative Balance Sheet ...

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Accounting

Financial statements of Rukavina Corporation follow:
Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 42 $ 39
Accounts receivable 10290
Inventory 6149
Property, plant, and equipment 798660
Less accumulated depreciation 366317
Total assets $ 637 $ 521
Liabilities and stockholders' equity:
Accounts payable $ 82 $ 88
Bonds payable 185290
Common stock 11290
Retained earnings 25853
Total liabilities and stockholders' equity $ 637 $ 521
Income Statement
Sales $ 795
Cost of goods sold 319
Gross margin 476
Selling and administrative expense 102
Net operating income 374
Income taxes 132
Net income $ 242
Cash dividends were $37. The company did not dispose of any property, plant, and equipment. It did not issue 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:
Multiple Choice
$(138)
$138
$(37)
$37

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