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Stone Retail Corporation's most recent comparative Balance Sheet is as follows: Assets Ending Beginning Cash $51,000 $64,000 Accounts receivable 83,000 41,000 Inventory 96,000 87,000 Property,
Stone Retail Corporation's most recent comparative Balance Sheet is as follows:
Assets | Ending | Beginning |
Cash | $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 (used) by operating activities?
($33,000) | ||
($18,000) | ||
$84,000 | ||
$69,000 |
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