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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 $ 57,000 $ 37,000
Hirshberg Corporation's comparative balance sheet appears below:
Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
---|---|---|
Assets: | ||
Current assets: | ||
Cash and cash equivalents | $ 57,000 | $ 37,000 |
Accounts receivable | 31,300 | 37,000 |
Inventory | 72,700 | 67,000 |
Total current assets | 161,000 | 141,000 |
Property, plant, and equipment | 374,000 | 347,000 |
Less accumulated depreciation | 196,000 | 164,000 |
Net property, plant, and equipment | 178,000 | 183,000 |
Total assets | $ 339,000 | $ 324,000 |
Liabilities and stockholders' equity: | ||
Current liabilities: | ||
Accounts payable | $ 32,700 | $ 28,000 |
Accrued liabilities | 79,400 | 67,000 |
Income taxes payable | 60,700 | 57,000 |
Total current liabilities | 172,800 | 152,000 |
Bonds payable | 59,000 | 87,000 |
Total liabilities | 231,800 | 239,000 |
Stockholders equity: | ||
Common stock | 45,400 | 48,000 |
Retained earnings | 61,800 | 37,000 |
Total stockholders equity | 107,200 | 85,000 |
Total liabilities and stockholders' equity | $ 339,000 | $ 324,000 |
The company's net income for the year was $31,000 and its cash dividends were $6,200. 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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