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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 $ 43,000 $ 23,000
Hirshberg Corporation's comparative balance sheet appears below:
Comparative Balance Sheet | ||||||
Ending Balance | Beginning Balance | |||||
Assets: | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 43,000 | $ | 23,000 | ||
Accounts receivable | 18,700 | 23,000 | ||||
Inventory | 57,300 | 53,000 | ||||
Total current assets | 119,000 | 99,000 | ||||
Property, plant, and equipment | 348,000 | 333,000 | ||||
Less accumulated depreciation | 168,000 | 136,000 | ||||
Net property, plant, and equipment | 180,000 | 197,000 | ||||
Total assets | $ | 299,000 | $ | 296,000 | ||
Liabilities and stockholders' equity: | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 17,300 | $ | 14,000 | ||
Accrued liabilities | 62,600 | 53,000 | ||||
Income taxes payable | 45,300 | 43,000 | ||||
Total current liabilities | 125,200 | 110,000 | ||||
Bonds payable | 60,500 | 73,000 | ||||
Total liabilities | 185,700 | 183,000 | ||||
Stockholders equity: | ||||||
Common stock | 30,700 | 34,000 | ||||
Retained earnings | 82,600 | 79,000 | ||||
Total stockholders equity | 113,300 | 113,000 | ||||
Total liabilities and stockholders' equity | $ | 299,000 | $ | 296,000 | ||
The company's net income for the year was $5,200 and its cash dividends were $1,600. 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:v
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