Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet...
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Accounting
Marbry Corporation's balance sheet and income statement appear below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
34
$
31
Accounts receivable
41
50
Inventory
54
50
Total current assets
129
131
Property, plant, and equipment
450
400
Less accumulated depreciation
255
250
Net property, plant, and equipment
195
150
Total assets
$
324
$
281
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
47
$
45
Accrued liabilities
20
16
Income taxes payable
45
45
Total current liabilities
112
106
Bonds payable
103
120
Total liabilities
215
226
Stockholders equity:
Common stock
35
30
Retained earnings
74
25
Total stockholders equity
109
55
Total liabilities and stockholders' equity
$
324
$
281
Income Statement
Sales
$
650
Cost of goods sold
317
Gross margin
333
Selling and administrative expense
266
Net operating income
67
Gain on sale of plant and equipment
19
Income before taxes
86
Income taxes
32
Net income
$
54
Cash dividends were $5. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year was:v: 05_24_2013_QC_31013
A) $5
B) $(17)
C) $(17)
D) $(5)
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