Comparative balance sheet

Assignment Help Financial Accounting

Reference no: EM131203517

Carriveau Corporation's most recent balance sheet appears below: Carriveau Corporation Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $42 $31 Accounts receivable 40 27 Inventory 52 67 Total current assets 134 125 Property, plant and equipment 777 552 Less: accumulated depreciation 286 264 Net property, plant and equipment 491 288 Total assets $625 $413 Liabilities and stockholders' equity: Current liabilities: Accounts payable $57 $74 Accrued liabilities 22 20 Income taxes payable 45 30 Total current liabilities 124 124 Bonds payable 107 168 Total liabilities 231 292 Stockholder's equity: Common stock 87 82 Retained earnings 307 39 Total stockholder's equity 394 121 Total liabilities and stockholders' equity $625 $413 Net income for the year was $330. Cash dividends were $62. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by (used in) operating activities for the year was: A $306 B $24 C $354 D $465

Reference no: EM131203517

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