Question

Financial statements of Rukavina Corporation follow:

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Cash and cash equivalents	$	33		$	37
Accounts receivable		54			59
Inventory		44			45
Property, plant, and equipment		436			410
Less accumulated depreciation		218			205
Total assets	$	349		$	346
Liabilities and stockholders' equity:
Accounts payable	$	86		$	71
Bonds payable		226			270
Common stock		86			85
Retained earnings		(49	)		(80	)
Total liabilities and stockholders' equity	$	349		$	346

Income Statement
Sales	$	570
Cost of goods sold		399
Gross margin		171
Selling and administrative expense		114
Net operating income		57
Income taxes		17
Net income	$	40

Cash dividends were $9. 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) operating activities for the year was:

Answer 1

The answer has been presented to the supporting sheet. All the parts has been solved with detailed explanation and calculation. For detailed answer refer to the supporting sheet.