how to calculate net cash flow provided financing activities

Question

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

Mccloe Corporation
Comparative Balance Sheet

 

Ending
Balance

Beginning
Balance

Assets:

   

Cash and cash equivalents

$ 70

$ 49

Accounts receivable

64

68

Inventory

90

68

Property, plant and equipment

590

580

Less: accumulated depreciation

274

268

Total assets

$540

$497

Liabilities and stockholders' equity:

   

Accounts payable

$ 83

$ 63

Accrued liabilities

56

34

Income taxes payable

63

63

Bonds payable

103

156

Common stock

59

48

Retained earnings

176

133

Total liabilities and stockholders' equity

$540

$497

 

Income Statement

Sales

$758

Cost of goods sold

559

Gross margin

199

Selling and administrative expenses

158

Net operating income

41

Gain on sale of plant and equipment

32

Income before taxes

73

Income taxes

27

Net income

$ 46

 

Cash dividends were $3. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing  activities for the year was:

 a. $(45)

 b. $(53)

 c. $11

 d .$(3)

 

 

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