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Kaeser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $44 $36 Accounts
Kaeser Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Assets | ||
Current assets: | ||
Cash and cash equivalents | $44 | $36 |
Accounts receivable | 54 | 60 |
Inventory | 32 | 37 |
Total current assets | 130 | 133 |
Property, plant, and equipment | 527 | 460 |
Less accumulated depreciation | 339 | 289 |
Net property, plant, and equipment | 188 | 171 |
Total assets | $318 | $304 |
Liabilities and stockholders' equity | ||
Current liabilities: | ||
Accounts payable | $46 | $41 |
Accrued liabilities | 20 | 17 |
Income taxes payable | 26 | 29 |
Total current liabilities | 92 | 87 |
Bonds payable | 145 | 180 |
Total liabilities | 237 | 267 |
Stockholders equity: | ||
Common stock | 31 | 30 |
Retained earnings | 50 | 7 |
Total stockholders equity | 81 | 37 |
Total liabilities and stockholders' equity | $318 | $304 |
The company's net income for the year was $52 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $9. The net cash provided by (used in) investing activities for the year was:
$17
$67
($17)
($67)
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