how to calculate net cash flow provided financing activities

Question

Gayles Corporation's most recent balance sheet appears below:

Gayles Corporation
Comparative Balance Sheet

 

Ending
Balance

Beginning
Balance

Assets:

   

Cash and cash equivalents

$ 51

$ 43

Accounts receivable

94

87

Inventory

76

73

Property, plant and equipment

618

530

Less: accumulated depreciation

262

226

Total assets

$577

$507

Liabilities and stockholders' equity:

   

Accounts payable

$ 67

$ 65

Bonds payable

277

330

Common stock

83

75

Retained earnings

150

37

Total liabilities and stockholders' equity

$577

$507

 

The net income for the year was $166. Cash dividends were $53. The company did not issue any bonds or repurchase any of its common stock during the year. The net cash provided by (used in) financing activities for the year was:

a. $ (98)

b. $ (52)

c. $ (53)

d. $ 8

 

 

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