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Cannedy Corporation's most recent balance sheet appears below: Ending Balance Beginning Balance Assets: Cash and cash equivalents $33 $27 Accounts receivable 45 54 Inventory 70
Cannedy Corporation's most recent balance sheet appears below:
Ending Balance | Beginning Balance | |
Assets: | ||
Cash and cash equivalents | $33 | $27 |
Accounts receivable | 45 | 54 |
Inventory | 70 | 73 |
Property, plant and equipment | 542 | 486 |
Less accumulated depreciation | 288 | 267 |
Total assets | $402 | $373 |
Liabilities and stockholder's equity: | ||
Accounts payable | $32 | $37 |
Accrued liabilities | 18 | 24 |
Income taxes payable | 35 | 38 |
Bonds payable | 87 | 107 |
Common stock | 71 | 67 |
Retained earnings | 159 | 100 |
Total liabilities and stockholder's equity | $402 | $373 |
The company's net income for the year was $77 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $18. The net cash provided by (used in) investing activities for the year was:
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