Marbry Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$44 $37 Accounts receivable 57 49 Inventory 48 42 Total current assets 149 128 Property, plant, and equipment 441 360 Less accumulated depreciation 281 248 Net property, plant, and equipment 160 112 Total assets$309 $240 Liabilities and stockholders' equity: Current liabilities: Accounts payable$35 $43 Accrued liabilities 18 16 Income taxes payable 37 40 Total current liabilities 90 99 Bonds payable 15 20 Total liabilities 105 119 Stockholders' equity: Common stock 34 30

Question

Retained earnings 170  91 Total stockholders' equity 204  121 Total liabilities and stockholders' equity$ 309 $ 240 Income StatementSales$ 807Cost of goods sold  531Gross margin276Selling and administrative expense  143Net operating income133Gain on sale of plant and equipment  10Income before taxes143Income taxes  43Net income$ 100Cash dividends were $21. 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:

A. ($5)
B. ($21)
C. ($22)
D. $4

Answer 1

Answer: C