Question
Carriveau Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 46 $
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||
---|---|---|---|---|
Ending Balance | Beginning Balance | |||
Assets: | ||||
Current assets: | ||||
Cash and cash equivalents | $ 46 | $ 35 | ||
Accounts receivable | 42 | 25 | ||
Inventory | 56 | 75 | ||
Total current assets | 144 | 135 | ||
Property, plant, and equipment | 831 | 556 | ||
Less accumulated depreciation | 298 | 272 | ||
Net property, plant, and equipment | 533 | 284 | ||
Total assets | $ 677 | $ 419 | ||
Liabilities and stockholders' equity: | ||||
Current liabilities: | ||||
Accounts payable | $ 61 | $ 71 | ||
Accrued liabilities | 26 | 22 | ||
Income taxes payable | 49 | 25 | ||
Total current liabilities | 136 | 118 | ||
Bonds payable | 123 | 172 | ||
Total liabilities | 259 | 290 | ||
Stockholders equity: | ||||
Common stock | 91 | 86 | ||
Retained earnings | 327 | 43 | ||
Total stockholders equity | 418 | 129 | ||
Total liabilities and stockholders' equity | $ 677 | $ 419 |
Net income for the year was $350. Cash dividends were $66. 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:
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||
---|---|---|---|---|
Ending Balance | Beginning Balance | |||
Assets: | ||||
Current assets: | ||||
Cash and cash equivalents | $ 46 | $ 35 | ||
Accounts receivable | 42 | 25 | ||
Inventory | 56 | 75 | ||
Total current assets | 144 | 135 | ||
Property, plant, and equipment | 831 | 556 | ||
Less accumulated depreciation | 298 | 272 | ||
Net property, plant, and equipment | 533 | 284 | ||
Total assets | $ 677 | $ 419 | ||
Liabilities and stockholders' equity: | ||||
Current liabilities: | ||||
Accounts payable | $ 61 | $ 71 | ||
Accrued liabilities | 26 | 22 | ||
Income taxes payable | 49 | 25 | ||
Total current liabilities | 136 | 118 | ||
Bonds payable | 123 | 172 | ||
Total liabilities | 259 | 290 | ||
Stockholders equity: | ||||
Common stock | 91 | 86 | ||
Retained earnings | 327 | 43 | ||
Total stockholders equity | 418 | 129 | ||
Total liabilities and stockholders' equity | $ 677 | $ 419 |
Net income for the year was $350. Cash dividends were $66. 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:
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||
---|---|---|---|---|
Ending Balance | Beginning Balance | |||
Assets: | ||||
Current assets: | ||||
Cash and cash equivalents | $ 46 | $ 35 | ||
Accounts receivable | 42 | 25 | ||
Inventory | 56 | 75 | ||
Total current assets | 144 | 135 | ||
Property, plant, and equipment | 831 | 556 | ||
Less accumulated depreciation | 298 | 272 | ||
Net property, plant, and equipment | 533 | 284 | ||
Total assets | $ 677 | $ 419 | ||
Liabilities and stockholders' equity: | ||||
Current liabilities: | ||||
Accounts payable | $ 61 | $ 71 | ||
Accrued liabilities | 26 | 22 | ||
Income taxes payable | 49 | 25 | ||
Total current liabilities | 136 | 118 | ||
Bonds payable | 123 | 172 | ||
Total liabilities | 259 | 290 | ||
Stockholders equity: | ||||
Common stock | 91 | 86 | ||
Retained earnings | 327 | 43 | ||
Total stockholders equity | 418 | 129 | ||
Total liabilities and stockholders' equity | $ 677 | $ 419 |
Net income for the year was $350. Cash dividends were $66. 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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