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Sonier Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 26 $ 27 Accounts
Sonier Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
---|---|---|
Assets: | ||
Cash and cash equivalents | $ 26 | $ 27 |
Accounts receivable | 45 | 49 |
Inventory | 40 | 43 |
Property, plant, and equipment | 474 | 380 |
Less accumulated depreciation | 269 | 244 |
Total assets | $ 316 | $ 255 |
Liabilities and stockholders' equity: | ||
Accounts payable | $ 42 | $ 35 |
Bonds payable | 245 | 270 |
Common stock | 71 | 70 |
Retained earnings | (42) | (120) |
Total liabilities and stockholders' equity | $ 316 | $ 255 |
The net income for the year was $97. Cash dividends were $19. The company did not issue any bonds or repurchase any of its common stock during the year. The net cash provided by (used in) financing activities for the year was:
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