Alcoser Corporation's most recent balance sheet appears below: Comparative...
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Accounting
Alcoser Corporation's most recent balance sheet appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Cash and cash equivalents
$
61
$
31
Accounts receivable
43
46
Inventory
63
85
Property, plant, and equipment
594
516
Less accumulated depreciation
228
216
Total assets
$
533
$
462
Liabilities and stockholders' equity:
Accounts payable
$
51
$
60
Accrued liabilities
27
26
Income taxes payable
28
38
Bonds payable
239
210
Common stock
85
79
Retained earnings
103
49
Total liabilities and equity
$
533
$
462
Net income for the year was $67. Cash dividends were $13. 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) operating activities for the year was:
Multiple Choice
$58
$86
$19
$104
Answer & Explanation
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