Kaeser Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current
Question:
Kaeser Corporation's most recent balance sheet appears below:
Comparative Balance Sheet | ||||||
Ending Balance | Beginning Balance | |||||
Assets: | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 44 | $ | 36 | ||
Accounts receivable | 54 | 60 | ||||
Inventory | 32 | 37 | ||||
Total current assets | 130 | 133 | ||||
Property, plant, and equipment | 527 | 460 | ||||
Less accumulated depreciation | 339 | 289 | ||||
Net property, plant, and equipment | 188 | 171 | ||||
Total assets | $ | 318 | $ | 304 | ||
Liabilities and stockholders' equity: | ||||||
Current liabilities: | ||||||
Accounts payable | $ | 46 | $ | 41 | ||
Accrued liabilities | 20 | 17 | ||||
Income taxes payable | 26 | 29 | ||||
Total current liabilities | 92 | 87 | ||||
Bonds payable | 145 | 180 | ||||
Total liabilities | 237 | 267 | ||||
Stockholders’ equity: | ||||||
Common stock | 31 | 30 | ||||
Retained earnings | 50 | 7 | ||||
Total stockholders’ equity | 81 | 37 | ||||
Total liabilities and stockholders' equity | $ | 318 | $ | 304 | ||
The company's net income for the year was $52 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $9. The net cash provided by (used in) investing activities for the year was:
a. $17
b. $67
c. ($17)
d. ($67)
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright