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Comparative Balance sheet EndingBalanceBeginningBalance Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated
Comparative Balance sheet EndingBalanceBeginningBalance Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Total assets Liabilities and stockholders' equity: Current 1iabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. Which of the following is correct regarding the operating activities section of the statement of cash flows? Multiple Choice The change in Accounts Payable will be added to net income; The change in Accrued Liabilities will be subtracted from net income The change in Accounts Payable will be subtracted from net income: The change in Accrued Liabilities will be added to net income The change in Accounts Payable will be subtracted from net income; The change in Accrued Liabilities will be subtracted from net income The change in Accounts Payable will be added to net income; The change in Accrued Liabilities will be added to net income
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