Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet ...

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Accounting

Hirshberg Corporation's comparative balance sheet appears below:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Current assets:
Cash and cash equivalents $ 55,000 $ 35,000
Accounts receivable 29,500 35,000
Inventory 70,500 65,000
Total current assets 155,000 135,000
Property, plant, and equipment 370,000 345,000
Less accumulated depreciation 192,000 160,000
Net property, plant, and equipment 178,000 185,000
Total assets $ 333,000 $ 320,000
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable $ 30,500 $ 26,000
Accrued liabilities 77,000 65,000
Income taxes payable 58,500 55,000
Total current liabilities 166,000 146,000
Bonds payable 57,000 85,000
Total liabilities 223,000 231,000
Stockholders equity:
Common stock 43,600 46,000
Retained earnings 66,400 43,000
Total stockholders equity 110,000 89,000
Total liabilities and stockholders' equity $ 333,000 $ 320,000

The company's net income for the year was $29,000 and its cash dividends were $5,600. It did not sell or retire any property, plant, and equipment during the year.

The company's net cash provided by (used in) investing activities is:v: 02_23_2016_QC_CS-43371

A) $57,000

B) $(7,000)

C) $(25,000)

D) $37,500

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