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Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Beginning Ending Balance Balance Assets : Current assets: Cash and cash equivalents $ 45, 000
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Beginning Ending Balance Balance Assets : Current assets: Cash and cash equivalents $ 45, 000 $ 38,000 Accounts receivable 24,000 26,500 Inventory 72,000 74, 500 Total current assets 141, 000 139,000 Property, plant, and equipment 373,000 349,000 Less accumulated depreciation 166,000 137,000 Net property, plant, and equipment 207, 000 212, 000 Total assets $ 348, 000 $ 351,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 23,000 $ 24,500 Accrued liabilities 59 , 000 64, 500 Income taxes payable 54, 000 47,000 Total current liabilities 136, 000 136, 000 Bonds payable 87, 000 93,500 Total liabilities 223, 000 229, 500 Stockholders' equity: Common stock 30, 500 27,000 Retained earnings 94 , 500 94, 506 Total stockholders' equity 125, 000 121, 500 Total liabilities and stockholders' equity $ 348, 000 $ 351,000 The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $6,000 and its cash dividends were $6,000. The company did not issue any bonds payable or purchase any of its own common stock during the year. Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $6,000 and its cash dividends were $6,000. The company did not issue any bonds payable or purchase any of its own common stock during the year. Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are: Multiple Choice O net cash provided by (used in) operating activities, $42,500; net cash provided by (used in) financing activities, $(3,500) O net cash provided by (used in) operating activities, $40,000; net cash provided by (used in) financing activities, $(3,500) O net cash provided by (used in) operating activities, $40,000; net cash provided by (used in) financing activities, $(9,000) O net cash provided by (used in) operating activities, $42,500; net cash provided by (used in) financing activities, $(9,000)
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