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is this correct? Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: Cash and cash
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Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: Cash and cash equivalents 44 37 Accounts receivable 57 49 Inventory 48 42 Total current assets 149 128 Property, plant, and equipment 441 360 Less accumulated depreciation. 281 248 Net property, plant, and equipment 160 112 Total assets. Liabilities and stockholders' equity Current liabilities: Accounts payable 35 43 Accrued liabilities 18 16 Income taxes payable 37 40 Total current liabilities 90 99 Bonds payable. 15 20 Total liabilities 10 Stockholders' equity: Common stock 34 30 Retained earnings. 170 91 Total stockholders' equity 204 121 Total liabilities and stockholders' equity Income Statement Sales $807 Cost of goods sold 531 Gross margin. 276 Selling and administrative expense 143 Net operating income. 133 10 Gain on sale of plant and equipment Income before taxes 143 Income taxes. 43 Net income. Cash dividends were $21 The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year wasStep by Step Solution
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