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Alcoser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending BalanceBeginning BalanceAssets:
Alcoser Corporation's most recent balance sheet appears below:
Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$48 $27 Accounts receivable 39 42 Inventory 59 77 Property, plant, and equipment 578 504 Less accumulated depreciation 220 212 Total assets$504 $438 Liabilities and stockholders' equity: Accounts payable$47 $56 Accrued liabilities 23 22 Income taxes payable 27 34 Bonds payable 235 206 Common stock 81 75 Retained earnings 91 45 Total liabilities and equity$504 $438
Net income for the year was $55. Cash dividends were $9. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
The net cash provided by (used in) operating activities for the year was:
