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yandy yandy
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A year ago

Mattix Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet
Ending BalanceBeginning Balance
Assets:
Cash and cash equivalents$ 23$ 22
Accounts receivable3940
Inventory4344
Property, plant, and equipment587500
Less accumulated depreciation359347
Total assets$ 333$ 259
Liabilities and stockholders' equity:
Accounts payable$ 30$ 26
Accrued liabilities1518
Income taxes payable3940
Bonds payable109120
Common stock5150
Retained earnings895
Total liabilities and stockholders' equity$ 333$ 259

Income Statement
Sales$ 972
Cost of goods sold620
Gross margin352
Selling and administrative expense200
Net operating income152
Gain on sale of equipment14
Income before taxes166
Income taxes50
Net income$ 116

The company sold equipment for $20 that was originally purchased for $7 and that had accumulated depreciation of $1. It paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock.

Required:

Determine the net cash provided by (used in) operating activities for the year using the indirect method.

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
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KFordKFord
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A year ago
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yandy Author
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A year ago
This helped my grade so much Perfect
ofsuahasiufhoas
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Yesterday
Thank you, thank you, thank you!
macbookpro1
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2 hours ago
Smart ... Thanks!
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