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Hocking Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was $(15,700) and its cash dividends were $15,700. It did
Hocking Corporation's comparative balance sheet appears below: |
The company's net income (loss) for the year was $(15,700) and its cash dividends were $15,700. 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. |
The company's net cash provided by operating activities is: |
$10,100
$33,300
$1,900
$46,800
Hocking Corporation's Comparative balance sheet appears below: Hocking Corporation Comparative Balance Sheet Ending Beginning Balance Assets: Current assets: $54,000 $36,800 Cash and cash equivalents 29.500 43.000 Accounts receivable 90,500 104, Inventory e.600 12.300 Prepaid expenses 182.600 Total current assets 630,000 Property, plant, and equipment 650,000 Less accumulated depreciation 325,000 283.500 325.000 346500 Net property, plant, and equipment $529100 $529100 Total assets Liabilities and stockholders' equity Current liabilities: $491900 $32,000 Accounts payable Accrued liabilities 75,000 110,500 124,500 126500 Income taxes payable 249,400 Total current liabilities 145.000 19.000 Bonds payable 388.000 394,400 Total liabilities Stockholders' equity: 74,000 49,000 Common stock 650700 92100 Retained earnings 134700 141100 Total stockholders' equity $529.100 $529.100 Total liabilities and stockholders' equity 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. The Company's net cash provided by operating activities is O $10.100 O $33,300 O $1,900 O $46,800Step by Step Solution
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