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Hirshberg Corporation's comparative balance sheet appears below: Hirshberg Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $54,000 $34,000
Hirshberg Corporation's comparative balance sheet appears below: |
Hirshberg Corporation Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Assets: | ||
Current assets: | ||
Cash and cash equivalents | $54,000 | $34,000 |
Accounts receivable | 28,600 | 34,000 |
Inventory | 69,400 | 64,000 |
Total current assets | 152,000 | 132,000 |
Property, plant, and equipment | 368,000 | 344,000 |
Less accumulated depreciation | 190,000 | 158,000 |
Net property, plant, and equipment | 178,000 | 186,000 |
Total assets | $330,000 | $318,000 |
Liabilities and Stockholders' Equity | ||
Current liabilities: | ||
Accounts payable | $29,400 | $25,000 |
Accrued liabilities | 75,800 | 64,000 |
Income taxes payable | 57,400 | 54,000 |
Total current liabilities | 162,600 | 143,000 |
Bonds payable | 56,000 | 84,000 |
Total liabilities | 218,600 | 227,000 |
Stockholders' equity: | ||
Common stock | 42,700 | 45,000 |
Retained earnings | 68,700 | 46,000 |
Total stockholders' equity | 111,400 | 91,000 |
Total liabilities and stockholders' equity | $330,000 | $318,000 |
The company's net income (loss) for the year was $28,000 and its cash dividends were $5,300. It did not sell or retire any property, plant, and equipment during the year. |
The company's net cash used in investing activities is: |
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