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Harkey Corporation's balance sheet and income statement appear below: Comparative Balance Sheet...

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Accounting

Harkey Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 34 $ 36
Accounts receivable 79 77
Inventory 43 46
Property, plant, and equipment 461 377
Less accumulated depreciation 204 167
Total assets $ 413 $ 369
Liabilities and stockholders' equity:
Accounts payable $ 27 $ 30
Accrued liabilities 29 27
Income taxes payable 41 39
Bonds payable 125 179
Common stock 86 82
Retained earnings 105 12
Total liabilities and stockholders' equity $ 413 $ 369

Income Statement
Sales $ 1,214
Cost of goods sold 652
Gross margin 562
Selling and administrative expense 176
Net operating income 386
Gain on sale of equipment 11
Income before taxes 397
Income taxes 51
Net income $ 346

Cash dividends were $253. The company sold equipment for $15 that was originally purchased for $6 and that had accumulated depreciation of $2.

Required:

Using the direct method, determine the net cash provided by (used in) operating activities.

image Net cash provided (used in) operating activities

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