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Harkey Corporation's balance sheet and income statement appear below:
| Comparative Balance Sheet |
|---|
| | Ending Balance | Beginning Balance |
| Assets: | | |
| Cash and cash equivalents | $ 34 | $ 36 |
| Accounts receivable | 79 | 77 |
| Inventory | 43 | 46 |
| Property, plant, and equipment | 461 | 377 |
| Less accumulated depreciation | 204 | 167 |
| Total assets | $ 413 | $ 369 |
| Liabilities and stockholders' equity: | | |
| Accounts payable | $ 27 | $ 30 |
| Accrued liabilities | 29 | 27 |
| Income taxes payable | 41 | 39 |
| Bonds payable | 125 | 179 |
| Common stock | 86 | 82 |
| Retained earnings | 105 | 12 |
| Total liabilities and stockholders' equity | $ 413 | $ 369 |
| Income Statement |
|---|
| Sales | $ 1,214 |
| Cost of goods sold | 652 |
| Gross margin | 562 |
| Selling and administrative expense | 176 |
| Net operating income | 386 |
| Gain on sale of equipment | 11 |
| Income before taxes | 397 |
| Income taxes | 51 |
| Net income | $ 346 |
Cash dividends were $253. The company sold equipment for $15 that was originally purchased for $6 and that had accumulated depreciation of $2.
Required:
Using the direct method, determine the net cash provided by (used in) operating activities.
Net cash provided (used in) operating activities
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