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Sonier Corporation's most recent balance sheet appears below: Sonier Corporation's Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 48 $
Sonier Corporation's most recent balance sheet appears below:
Sonier Corporation's Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Assets: | ||
Cash and cash equivalents | $ 48 | $ 40 |
Accounts receivable | 91 | 84 |
Inventory | 73 | 70 |
Property, plant and equipment | 588 | 500 |
Less: accumulated depreciation | 256 | 220 |
Total assets | $544 | $474 |
Liabilities and stockholders' equity: | ||
Accounts payable | $ 64 | $ 62 |
Bonds payable | 250 | 300 |
Common stock | 50 | 45 |
Retained earnings | 180 | 67 |
Total liabilities and stockholders' equity | $544 | $474 |
The net income for the year was $160. Cash dividends were $47. 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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