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Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets:...
Marbry Corporation's balance sheet and income statement appear below:
Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$66 $47 Accounts receivable 56 66 Inventory 86 66 Total current assets 208 179 Property, plant, and equipment 580 560 Less accumulated depreciation 279 266 Net property, plant, and equipment 301 294 Total assets$509 $473 Liabilities and stockholders' equity: Current liabilities: Accounts payable$79 $61 Accrued liabilities 52 32 Income taxes payable 61 61 Total current liabilities 192 154 Bonds payable 93 152 Total liabilities 285 306 Stockholders' equity: Common stock 55 46 Retained earnings 169 121 Total stockholders' equity 224 167 Total liabilities and stockholders' equity$509 $473
Income StatementSales$783Cost of goods sold 581Gross margin 202Selling and administrative expense 132Net operating income 70Gain on sale of plant and equipment 25Income before taxes 95Income taxes 35Net income$60
Cash dividends were $12. 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
