Carriveau Corporation's most recent balance sheet appears below: Comparative...
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Accounting
Carriveau Corporation's most recent balance sheet appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
35
$
24
Accounts receivable
33
27
Inventory
45
53
Total current assets
113
104
Property, plant, and equipment
742
539
Less accumulated depreciation
266
250
Net property, plant, and equipment
476
289
Total assets
$
589
$
393
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
50
$
54
Accrued liabilities
15
11
Income taxes payable
38
28
Total current liabilities
103
93
Bonds payable
134
193
Total liabilities
237
286
Stockholders equity:
Common stock
80
75
Retained earnings
272
32
Total stockholders equity
352
107
Total liabilities and stockholders' equity
$
589
$
393
Net income for the year was $295. Cash dividends were $55. 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:
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