Question
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 38,000 $ 28,800
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 38,000 $ 28,800 Accounts receivable 21,500 27,000 Inventory 72,000 66,500 Prepaid expenses 13,400 10,700 Total current assets 144,900 133,000 Property, plant, and equipment 458,000 438,000 Less accumulated depreciation 229,000 197,100 Net property, plant, and equipment 229,000 240,900 Total assets $ 373,900 $ 373,900 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 24,300 $ 16,000 Accrued liabilities 59,000 70,500 Income taxes payable 84,500 86,500 Total current liabilities 167,800 173,000 Bonds payable 97,000 87,000 Total liabilities 264,800 260,000 Stockholders equity: Common stock 42,000 33,000 Retained earnings 67,100 80,900 Total stockholders equity 109,100 113,900 Total liabilities and stockholders' equity $ 373,900 $ 373,900 The company's net income (loss) for the year was $(6,900) and its cash dividends were $6,900. 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
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