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Schleich Corporation's most recent balance sheet appears below: Schleich Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $36
Schleich Corporation's most recent balance sheet appears below: |
Schleich Corporation Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Assets: | ||
Current assets: | ||
Cash and cash equivalents | $36 | $25 |
Accounts receivable | 32 | 25 |
Inventory | 46 | 55 |
Total current assets | 114 | 105 |
Property, plant and equipment | 747 | 546 |
Less: accumulated depreciation | 240 | 235 |
Net property, plant and equipment | 507 | 311 |
Total assets | $621 | $416 |
Liabilities and stockholders' equity: | ||
Current liabilities: | ||
Accounts payable | $51 | $53 |
Accrued liabilities | 16 | 10 |
Income taxes payable | 39 | 27 |
Total current liabilities | 106 | 90 |
Bonds payable | 157 | 217 |
Total liabilities | 263 | 307 |
Stockholder's equity: | ||
Common stock | 81 | 76 |
Retained earnings | 277 | 33 |
Total stockholder's equity | 358 | 109 |
Total liabilities and stockholders' equity | $621 | $416 |
Net income for the year was $300. Cash dividends were $56. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was: |
$417
$277
$323
$23
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