Carriveau Corporation's most recent balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$31 $34 Accounts receivable 73 67 Inventory 74 64 Total current assets 178 165 Property, plant, and equipment 456 370 Less accumulated depreciation 207 196 Net property, plant, and equipment 249 174 Total assets$ 427 $ 339 Liabilities and stockholders' equity: Current liabilities: Accounts payable$49 $56 Accrued liabilities 19 20 Income taxes payable 26 24 Total current liabilities 94 100 Bonds payable 152 200 Total liabilities 246 300 Stockholders' equity: Common
stock 35 30 Retained earnings 146 9 Total stockholders' equity 181 39 Total liabilities and stockholders' equity$ 427 $ 339 Net income for the year was $172. Cash dividends were $35. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was:
A. $183
B. $(11)
C. $161
D. $246
Answer: C
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