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Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 49,000 $ 29,000
Hirshberg Corporation's comparative balance sheet appears below:
Comparative Balance Sheet | ||||||||||||||||||||||||||
Ending Balance | Beginning Balance | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: | ||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||
Cash and cash equivalents | $ 49,000 | $ 29,000 | ||||||||||||||||||||||||
Accounts receivable | 24,100 | 29,000 | ||||||||||||||||||||||||
Inventory | 63,900 | 59,000 | ||||||||||||||||||||||||
Total current assets | 137,000 | 117,000 | ||||||||||||||||||||||||
Property, plant, and equipment | 340,000 | 339,000 | ||||||||||||||||||||||||
Less accumulated depreciation | 180,000 | 148,000 | ||||||||||||||||||||||||
Net property, plant, and equipment | 160,000 | 191,000 | ||||||||||||||||||||||||
Total assets | $ 297,000 | $ 308,000 | ||||||||||||||||||||||||
Liabilities and stockholders' equity: | ||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||
Accounts payable | $ 23,900 | $ 20,000 | ||||||||||||||||||||||||
Accrued liabilities | 69,800 | 59,000 | ||||||||||||||||||||||||
Income taxes payable
The company's net income for the year was $6,000 and its cash dividends were $2,700. It did not sell or retire any property, plant, and equipment during the year. The company's net cash provided by (used in) investing activities is |
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