how to calculate net cash flow provided by operating activities
Question
Schleich Corporation's most recent balance sheet appears below:
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Schleich Corporation |
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Ending |
Beginning |
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Assets: |
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Cash and cash equivalents |
$ 41 |
$ 30 |
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Accounts receivable |
38 |
26 |
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Inventory |
51 |
65 |
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Property, plant and equipment |
742 |
551 |
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Less: accumulated depreciation |
283 |
262 |
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Total assets |
$589 |
$410 |
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Liabilities and stockholders' equity: |
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Accounts payable |
$ 56 |
$ 71 |
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Accrued liabilities |
21 |
18 |
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Income taxes payable |
44 |
36 |
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Bonds payable |
110 |
166 |
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Common stock |
86 |
81 |
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Retained earnings |
272 |
38 |
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Total liabilities and stockholders' equity |
$589 |
$410 |
Net income for the year was $325. Cash dividends were $61. 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. $457
b. $344
c. $19
d. $306