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Walmouth Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Ending Beginning Balance Balance Cash. $ 40,000 $ 32,000
Walmouth Corporation's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet Ending Beginning Balance Balance Cash. $ 40,000 $ 32,000 Accounts receivable........... 89,000 79,000 Inventory 48,000 55,000 Prepaid expenses 8,000 11,000 Long-term investments 250,000 210,000 Property, plant and equipment..... 550,000 550,000 Less accumulated depreciation...... 264.000 239.000 Total assets $721.000 $698,000 Accounts payable Accrued liabilities Income taxes payable Bonds payable... Common stock Retained earnings... Total liabilities and stockholders' equity ....... $ 58,000 15,000 55,000 100,000 150,000 343.000 $721,000 $ 46,000 19,000 41,000 160,000 140,000 292.000 $698.000 Income Statement Sales Cost of goods sold. Gross margin.. Selling and administrative expense.... Net operating income Income taxes.... Net income $870,000 450,000 420,000 270,000 150,000 45,000 $105.000 The company declared and paid a cash dividend of $54,000 during the year. It did not purchase or dispose of any property, plant, and equipment. It did not issue any bonds or repurchase any of its own common stock. The following Question pertain to the company's statement of cash flows. The net cash provided by (used in) financing activities last year was: $(104,000) O $160,000) $60,000 $104,000
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