12) MC Qu. 93 Stone Retail Corporations most ... Stone Retail Corporation's most recent comparative...
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Accounting
12) MC Qu. 93 Stone Retail Corporations most ...
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 by (used in) investing activities?
A)$25,000
B)$0
C)($15,000)
D)$45,000
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