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 $36 $30 Accounts receivable 48 57 Inventory 73 76 Property, plant and equipment 551 492 Less accumulated depreciation 294 270 Total assets $414 $385 Liabilities and stockholder's equity: Accounts payable $35 $40 Accrued liabilities 19 28 Income taxes payable 38 41 Bonds payable 92 115 Common stock 68 64 Retained earnings 162 97 Total liabilities and stockholder's equity $414 $385 The company's net income for the year was $80 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $15. The net cash provided by (used in) investing activities for the year was: $65 $41 $(59) $(47)

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Explanation / Answer

$65

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