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Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 41 $
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||||
Ending Balance | Beginning Balance | |||||
Assets: | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 41 | $ | 30 | ||
Accounts receivable | 38 | 26 | ||||
Inventory | 51 | 65 | ||||
Total current assets | 130 | 121 | ||||
Property, plant, and equipment | 772 | 551 | ||||
Less accumulated depreciation | 283 | 262 | ||||
Net property, plant, and equipment | 489 | 289 | ||||
Total assets | $ | 619 | $ | 410 | ||
Liabilities and stockholders' equity: | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 56 | $ | 71 | ||
Accrued liabilities | 21 | 18 | ||||
Income taxes payable | 44 | 36 | ||||
Total current liabilities | 121 | 125 | ||||
Bonds payable | 110 | 166 | ||||
Total liabilities | 231 | 291 | ||||
Stockholders equity: | ||||||
Common stock | 86 | 81 | ||||
Retained earnings | 302 | 38 | ||||
Total stockholders equity | 388 | 119 | ||||
Total liabilities and stockholders' equity | $ | 619 | $ | 410 | ||
Net income for the year was $325. Cash dividends were $61. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was:
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