Question
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 39,000 $ 29,300
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 39,000 $ 29,300 Accounts receivable 22,000 28,000 Inventory 74,000 68,000 Prepaid expenses 13,600 10,800 Total current assets 148,600 136,100 Property, plant, and equipment 470,000 450,000 Less accumulated depreciation 235,000 202,500 Net property, plant, and equipment 235,000 247,500 Total assets $ 383,600 $ 383,600 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 25,800 $ 17,000 Accrued liabilities 60,000 73,000 Income taxes payable 87,000 89,000 Total current liabilities 172,800 179,000 Bonds payable 100,000 89,000 Total liabilities 272,800 268,000 Stockholders equity: Common stock 44,000 34,000 Retained earnings 66,800 81,600 Total stockholders equity 110,800 115,600 Total liabilities and stockholders' equity $ 383,600 $ 383,600 The company's net income (loss) for the year was $(7,400) and its cash dividends were $7,400. 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 (used in) operating activities is: Garrison 16e Rechecks 2017-11-21 Multiple Choice $16,100 $30,900 $17,700 $36,900
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