Net cash provided by financing activities

Question

Question:

Hanna Corporation's most recent balance sheet appears below:

Comparative Balance Sheet
 
Ending Balance
Beginning Balance
Assets:
 
 
Cash and cash equivalents          $ 55
                                                $ 44

Accounts receivable                      55
                                                   50

Inventory                                     73
                                                   64

Plant and equipment                    641
                                                 450

Accumulated depreciation            (331)
                                                 (345)

Total assets                                $493
                                                 $263
 
Liabilities and stockholders’ equity:
 
Accounts payable                       $ 38
                                                $ 51

Long-term debt                            324
                                                  289

Common stock                             35
                                                  29

Retained earnings                        96
                                                (106)

Total liabilities and stockholders’ equity  $493
                                                          $263

The net income for the year was $75. Cash dividends were $123. The net cash provided by (used by) financing activities for the year was:

• ($123)
• $6
• ($82 )
• $35