Alcoser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash
Question:
Alcoser Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||||
Ending Balance | Beginning Balance | |||||
Assets: | ||||||
Cash and cash equivalents | $ | 34 | $ | 29 | ||
Accounts receivable | 32 | 36 | ||||
Inventory | 53 | 66 | ||||
Property, plant, and equipment | 554 | 480 | ||||
Less accumulated depreciation | 208 | 206 | ||||
Total assets | $ | 465 | $ | 405 | ||
Liabilities and stockholders' equity: | ||||||
Accounts payable | $ | 41 | $ | 50 | ||
Accrued liabilities | 17 | 16 | ||||
Income taxes payable | 28 | 30 | ||||
Bonds payable | 217 | 200 | ||||
Common stock | 75 | 70 | ||||
Retained earnings | 87 | 39 | ||||
Total liabilities and stockholders' equity | $ | 465 | $ | 405 | ||
Net income for the year was $60. Cash dividends were $12. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
The net cash provided by (used in) financing activities for the year was:
a. $10
b. $5
c. $(12)
d. $17
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright