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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 $ 48 $
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||
Ending Balance | Beginning Balance | |||
---|---|---|---|---|
Assets: | ||||
Current assets: | ||||
Cash and cash equivalents | $ 48 | $ 37 | ||
Accounts receivable | 46 | 27 | ||
Inventory | 58 | 79 | ||
Total current assets | 152 | 143 | ||
Property, plant, and equipment | 862 | 558 | ||
Less accumulated depreciation | 304 | 276 | ||
Net property, plant, and equipment | 558 | 282 | ||
Total assets | $ 710 | $ 425 | ||
Liabilities and stockholders' equity: | ||||
Current liabilities: | ||||
Accounts payable | $ 39 | $ 60 | ||
Accrued liabilities | 28 | 23 | ||
Income taxes payable | 51 | 28 | ||
Total current liabilities | 118 | 111 | ||
Bonds payable | 155 | 174 |
Total liabilities | 273 | 285 |
---|---|---|
Stockholders equity: | ||
Common stock | 93 | 88 |
Retained earnings | 344 | 52 |
Total stockholders equity | 437 | 140 |
Total liabilities and stockholders' equity | $ 710 | $ 425 |
Net income for the year was $360. Cash dividends were $68. 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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