The Most Recent Balance Sheet and Income Statement of Penaloza

question 17

Multiple Choice

The most recent balance sheet and income statement of Penaloza Corporation appear below: The company paid a cash dividend of $18.It did not dispose of any property,plant,and equipment.The company did not retire any bonds payable or repurchase any of its own common stock.The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) financing activities for the year was:

• A)($18)
• B)$5
• C)($5)
• D)$8

---

Definitions:

Selective Incorporation

The legal doctrine by which certain rights and freedoms guaranteed by the Bill of Rights are applied to the states through the Fourteenth Amendment's Due Process Clause.

Fourteenth Amendment

An amendment to the U.S. Constitution, adopted in 1868, that grants citizenship to all persons born or naturalized in the United States, including former slaves, and guarantees all citizens equal protection of the laws.

Pre-Civil War

Pre-Civil War refers to the period in United States history before the start of the American Civil War in 1861, characterized by growing tensions over issues like slavery and states' rights.

Civil Rights Act of 1964

The Civil Rights Act of 1964 is a landmark piece of federal legislation in the United States that prohibited discrimination on the basis of race, color, religion, sex, or national origin, particularly in voting, employment, and public accommodations.