Carriveau Corporation's most recent balance sheet appears below: Comparative Balance...
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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
$ 48
$ 37
Accounts receivable
46
27
Inventory
58
79
Total current assets
152
143
Property, plant, and equipment
862
558
Less accumulated depreciation
304
276
Net property, plant, and equipment
558
282
Total assets
$ 710
$ 425
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$ 39
$ 60
Accrued liabilities
28
23
Income taxes payable
51
28
Total current liabilities
118
111
Bonds payable
155
174
Total liabilities
273
285
Stockholders equity:
Common stock
93
88
Retained earnings
344
52
Total stockholders equity
437
140
Total liabilities and stockholders' equity
$ 710
$ 425
Net income for the year was $360. Cash dividends were $68. 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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