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Lueckenhoff Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Asset: Cash and cash equivalents $34 $29 Accounts receivable 44
Lueckenhoff Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Asset: | ||
Cash and cash equivalents | $34 | $29 |
Accounts receivable | 44 | 41 |
Inventory | 72 | 60 |
Property, plant and equipment | 610 | 550 |
Less accumulated depreciation | 274 | 229 |
Total assets | $486 | $451 |
Liabilities and stockholders' equity: | ||
Accounts payable | $32 | $28 |
Bonds payable | 305 | 400 |
Common stock | 51 | 50 |
Retained earnings | 98 | (27) |
Total liabilities and stockholders' equity. | $486 | $451 |
The company's net income for the year was $153 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $28. The net cash provided by (used in) operating activities for the year was:
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