Question

Carriveau Corporation's most recent balance sheet appears below:Carriveau Corporation Comparative Balance Sheet Ending BalanceBeginning Balance Assets: Current assets: Cash and cash equivalents$42 $31 Accounts receivable 40 27 Inventory 52 67 Total currentassets 134 125 Property, plant and equipment 777 552 Less:accumulated depreciation 286 264 Net property, plant and equipment491 288 Total assets $625 $413 Liabilities and stockholders'equity: Current liabilities: Accounts payable $57 $74 Accruedliabilities 22 20 Income taxes payable 45 30 Total currentliabilities 124 124 Bonds payable 107 168 Total liabilities 231 292Stockholder's equity: Common stock 87 82 Retained earnings 307 39Total stockholder's equity 394 121 Total liabilities andstockholders' equity $625 $413 Net income for the year was $330.Cash dividends were $62. The company did not sell or retire anyproperty, plant, and equipment during the year. The net cashprovided by (used in) operating activities for the year was: A $306B $24 C $354 D $465