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watching
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28 Sep 2019
Hocking Corporation's comparative balance sheet appearsbelow:
Ending
Balance Beginning
Balance Assets: Current assets: Cash and cash equivalents $74,800 $32,700 Accounts receivable 27,600 34,400 Inventory 70,600 69,400 Prepaid expenses 15,600 19,400 Total current assets 188,600 155,900 Property, plant and equipment 376,000 348,500 Loss accumulated depreciation 171,400 146,500 Netproperty, plant, and equipment 204,600 202,000 Total assets $393,200 $357,900 Liabilities and Stockholder's Equity: Current liabilities: Accounts payable $21,400 $16,200 Accrued liabilities 69,400 56,800 Income taxes payable 58,400 54,200 Total current liabilities 149,200 127,200 Bonds payable 86,200 88,200 Total liabilities 235,400 215,400 Stockholder's equity: Common stock 36,300 30,000 Retained earnings 121,500 112,500 Total stockholder's equity 157,800 142,500 Total liabilities and stockholder's equity $393,200 357,900
The company's net income (loss) for the year was $11,900 and itscash dividends were $2,900. It did not sell or retire any property,plant, and equipment during the year. The company uses the indirectmethod to determine the net cash provided by operatingactivities.
The company's net cash provided by operating activities is:
$68,200
$28,700
$69,400
$53,600
Hocking Corporation's comparative balance sheet appearsbelow:
Ending Balance | Beginning Balance | |
Assets: | ||
Current assets: | ||
Cash and cash equivalents | $74,800 | $32,700 |
Accounts receivable | 27,600 | 34,400 |
Inventory | 70,600 | 69,400 |
Prepaid expenses | 15,600 | 19,400 |
Total current assets | 188,600 | 155,900 |
Property, plant and equipment | 376,000 | 348,500 |
Loss accumulated depreciation | 171,400 | 146,500 |
Netproperty, plant, and equipment | 204,600 | 202,000 |
Total assets | $393,200 | $357,900 |
Liabilities and Stockholder's Equity: | ||
Current liabilities: | ||
Accounts payable | $21,400 | $16,200 |
Accrued liabilities | 69,400 | 56,800 |
Income taxes payable | 58,400 | 54,200 |
Total current liabilities | 149,200 | 127,200 |
Bonds payable | 86,200 | 88,200 |
Total liabilities | 235,400 | 215,400 |
Stockholder's equity: | ||
Common stock | 36,300 | 30,000 |
Retained earnings | 121,500 | 112,500 |
Total stockholder's equity | 157,800 | 142,500 |
Total liabilities and stockholder's equity | $393,200 | 357,900 |
The company's net income (loss) for the year was $11,900 and itscash dividends were $2,900. It did not sell or retire any property,plant, and equipment during the year. The company uses the indirectmethod to determine the net cash provided by operatingactivities.
The company's net cash provided by operating activities is:
$68,200
$28,700
$69,400
$53,600
Jean KeelingLv2
28 Sep 2019