Kaeser Corporation's most recent balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$44 $36 Accounts receivable 54 60 Inventory 32 37 Total current assets 130 133 Property, plant, and equipment 527 460 Less accumulated depreciation 339 289 Net property, plant, and equipment 188 171 Total assets$ 318 $ 304 Liabilities and stockholders' equity: Current liabilities: Accounts payable$46 $41 Accrued liabilities 20 17 Income taxes payable 26 29 Total current liabilities 92 87 Bonds payable 145 180 Total liabilities 237 267 Stockholders' equity: Common stock 31 30
Retained earnings 50 7 Total stockholders' equity 81 37 Total liabilities and stockholders' equity$ 318 $ 304 The company's net income for the year was $52 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $9. The net cash provided by (used in) investing activities for the year was:
A. ($17)
B. $67
C. ($67)
D. $17
Answer: C
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