Financial statements of Ansbro Corporation follow: Comparative Balance Sheet End

Question

Financial statements of Ansbro Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $48 $39 Accounts receivable 97 82 Inventory 52 43 Property, plant and equipment 558 520 Less accumulated depreciation 352 303 Total assets $403 $381 Liabilities and stockholder's equity: Accounts payable $59 $76 Bonds payable 170 176 Common stock 91 88 Retained earnings 83 41 Total liabilities and stockholder's equity $403 $381 Income Statement Sales $775 Cost of goods sold 481 Gross margin 294 Selling and administrative expenses 184 Net operating income 110 Income taxes 33 Net income $77 Cash dividends were $35. 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 question pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities for the year was: $8 $110 $77 $85

Explanation / Answer

c) $77

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