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Stone Retail Corporation's most recent comparative Balance Sheet is as follows: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 51,000
Stone Retail Corporation's most recent comparative Balance Sheet is as follows:
Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
---|---|---|
Assets: | ||
Cash and cash equivalents | $ 51,000 | $ 64,000 |
Accounts receivable | 83,000 | 41,000 |
Inventory | 96,000 | 87,000 |
Property, plant, and equipment | 120,000 | 120,000 |
Less accumulated depreciation | 65,000 | 50,000 |
Total assets | $ 285,000 | $ 262,000 |
Liabilities and stockholders' equity: | ||
Accounts payable | $ 12,000 | $ 38,000 |
Income taxes payable | 1,000 | 3,000 |
Bonds payable | 30,000 | 5,000 |
Common stock | 100,000 | 80,000 |
Retained earnings | 142,000 | 136,000 |
Total liabilities and stockholders' equity | $ 285,000 | $ 262,000 |
Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows.
What is Stone's net cash provided by (used in) investing activities?
A. $45,000
b. $25,000
c. (15,000)
d $0
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