Ravenna Company is a merchandiser that uses the indirect methodto prepare the operating activities section of its statement ofcash flows. Its balance sheet for this year is as follows:
| Ending Balance | | Beginning Balance |
| Cash | $ | 52,800 | | $ | 62,700 |
| Accounts receivable | | 45,100 | | | 48,400 |
| Inventory | | 60,500 | | | 55,000 |
| Total current assets | | 158,400 | | | 166,100 |
| Property, plant, and equipment | | 165,000 | | | 154,000 |
| Less accumulated depreciation | | 55,000 | | | 38,500 |
| Net property, plant, and equipment | | 110,000 | | | 115,500 |
| Total assets | $ | 268,400 | | $ | 281,600 |
| | | | | |
| Accounts payable | $ | 35,200 | | $ | 62,700 |
| Income taxes payable | | 27,500 | | | 30,900 |
| Bonds payable | | 66,000 | | | 55,000 |
| Common stock | | 77,000 | | | 66,000 |
| Retained earnings | | 62,700 | | | 67,000 |
| Total liabilities and stockholders’ equity | $ | 268,400 | | $ | 281,600 |
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During the year, Ravenna paid a $6,600 cash dividend and it solda piece of equipment for $3,300 that had originally cost $6,600 andhad accumulated depreciation of $4,400. The company did not retireany bonds or repurchase any of its own common stock during theyear.
11. What is the amount of net cash provided by (used in)operating activities in the company’s statement of cash flows?
