Hirshberg Corporation's comparative balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$42,000 $31,000 Accounts receivable 22,000 18,000 Inventory 66,000 70,000 Total current assets 130,000 119,000 Property, plant, and equipment 401,000 377,000 Less accumulated depreciation 207,000 177,000 Net property, plant, and equipment 194,000 200,000 Total assets$ 324,000 $ 319,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable$15,000 $17,000 Accrued liabilities 45,000 38,000 Income taxes payable 53,000 51,000 Total current liabilities 113,000 106,000 Bonds
payable 83,000 91,000 Total liabilities 196,000 197,000 Stockholders' equity: Common stock 27,000 28,000 Retained earnings 101,000 94,000 Total stockholders' equity 128,000 122,000 Total liabilities and stockholders' equity$ 324,000 $ 319,000 The company's net income for the year was $11,000 and its cash dividends were $4,000. It did not sell or retire any property, plant, and equipment during the year.The company's net cash provided by (used in) operating activities is:
A. $40,000
B. $52,000
C. $18,000
D. $48,000
Answer: D
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