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Krech Corporation's comparative balance sheet appears below: 4 ing Balance Skipped $ 28,999 20,000 56,000 18,000 114,099 354,099 165,000 189,888 $393.999 Comparative Balance Sheet Ending
Krech Corporation's comparative balance sheet appears below: 4 ing Balance Skipped $ 28,999 20,000 56,000 18,000 114,099 354,099 165,000 189,888 $393.999 Comparative Balance Sheet Ending Balance Assets Current assets: Cash and cash equivalents $ 31,900 Accounts receivable 18,000 Inventory 58,000 Prepaid expenses 12,888 Total current assets 119,080 Property, plant, and equipment 374,000 Less accumulated depreciation 190,000 Net property, plant, and equipment 184,088 Tatal assets $383,00 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 13,00 Accrued liabilities 52,988 Income taxes payable 67,999 Total current liabilities 132,988 Bonds payable Total liabilitics 200.000 Stockholders' equity: Common stock 28,000 Retained earnings 67,080 Total stockholders' equity 95,000 Total liabilities and stockholders' equity $303,00 $ 9,90 53,899 69,999 131,999 73,090 294,000 76,000 26,990 73,000 99,000 $383,660 The company's nat income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or ratire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities Which of the following is correct regarding the operating activities section of the statement of cash flows? Multiple Choice The change in Accounts Payable will be added to net income: The change in Accrued Liabilities will be subtracted from net income The change in Accounts Payable will be subtracted from net income. The change in Accrued Liabilities will be added to net income The change in Accounts Payable will be subtracted from net income. The change in Accrued Liabilities will be subtracted from net income The change in Accounts Payable will be added to net income: The change in Accrued Liebilities will be added to net income
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