Cannedy Corporation\'s most recent balance sheet appears below: Ending Balance B

Question

Cannedy Corporation's most recent balance sheet appears below: Ending Balance Beginning Balance Assets: Cash and cash equivalents $48 $42 Accounts receivable 60 69 Inventory 85 88 Property, plant and equipment 587 516 Less accumulated depreciation 318 282 Total assets $462 $433 Liabilities and stockholder's equity: Accounts payable $47 $52 Accrued liabilities 15 37 Income taxes payable 50 53 Bonds payable 110 143 Common stock 66 63 Retained earnings 174 85 Total liabilities and stockholder's equity $462 $433 The company's net income for the year was $99 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $10. The net cash provided by (used in) investing activities for the year was:

Explanation / Answer

The net cash provided by (used in) investing activities for the year was: $53

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