Income Statement Sales $ 830 491 Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment 339 142 197 25 Income before taxes 222...

Extracted text: Income Statement Sales $ 830 491 Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment 339 142 197 25 Income before taxes 222 Income taxes 67 Net income $ 155 Cash dividends were $23. The company sold equipment for $43 that was originally purchased for $23 and that had accumulated depreciation of $5. The net cash provided by (used in) investing activities for the year was:


Extracted text: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents $ 42 $ 43 Accounts receivable 75 74 Inventory 54 52 Total current assets 171 169 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 612 515 243 276 369 239 Total assets $ 540 $ 408 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 49 $ 53 Accrued liabilities 26 25 Income taxes payable 54 58 Total current liabilities 129 136 Bonds payable 61 55 Total liabilities 190 191 Stockholders' equity: Common stock 36 35 Retained earnings Total stockholders' equity 314 182 350 217 Total liabilities and stockholders' equity $ 540 $ 408