Degeare Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$35 $28 Accounts receivable 65 77 Inventory 47 40 Total current assets 147 145 Property, plant, and equipment 518 490 Less accumulated depreciation 233 213 Net property, plant, and equipment 285 277 Total assets$432 $422 Liabilities and stockholders' equity: Current liabilities: Accounts payable$61 $54 Accrued liabilities 15 16 Income taxes payable 36 35 Total current liabilities 112 105 Bonds payable 72 100 Total liabilities 184 205 Stockholders' equity: Common stock 82 80 Retained

Question

earnings 166  137 Total stockholders' equity 248  217 Total liabilities and stockholders' equity$432 $422 Income Statement?Sales$590Cost of goods sold363Gross margin227Selling and administrative expense184Net operating income43Gain on sale of plant and equipment13Income before taxes56Income taxes17Net income$39Cash dividends were $10. The company sold equipment for $18 that was originally purchased for $10 and that had accumulated depreciation of $5. The net cash provided by (used in) operating activities for the year was: 

A. $76
B. $73
C. $43
D. $63

Answer 1

Answer: D