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

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	34		$	31
Accounts receivable		41			50
Inventory		54			50
Total current assets		129			131
Property, plant, and equipment		450			400
Less accumulated depreciation		255			250
Net property, plant, and equipment		195			150
Total assets	$	324		$	281
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	47		$	45
Accrued liabilities		20			16
Income taxes payable		45			45
Total current liabilities		112			106
Bonds payable		103			120
Total liabilities		215			226
Stockholders’ equity:
Common stock		35			30
Retained earnings		74			25
Total stockholders’ equity		109			55
Total liabilities and stockholders' equity	$	324		$	281

Income Statement
Sales	$	650
Cost of goods sold		317
Gross margin		333
Selling and administrative expense		266
Net operating income		67
Gain on sale of plant and equipment		19
Income before taxes		86
Income taxes		32
Net income	$	54

Cash dividends were $5. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year was:v: 05_24_2013_QC_31013

A) $5

B) $(17)

C) $(17)

D) $(5)

Answer rating: 100% (QA)

Statement of Cash Flow Cash Flow fro... View the full answer