Comparative Balance Sheet Ending Beginning Balance Balance Assets Cash and cash

Question

Comparative Balance Sheet Ending Beginning Balance Balance Assets Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 49 92 85 71 510 598 258 $555 $485 $ 65 259 $ 63 310 170 57 $555 $485 The net Income for the year was $162 Cash dividends were $49. The company did not Issue any bonds or repurchase any of its common stock during the year. The net cash provided by (used In financing activities for the year was: Multiple Cholce $49) $6 $(51) $(94)

Explanation / Answer

Cash flows from Financing activities

Net cash used in Financing activities = ($94)

Payment of bonds payable ($310-$259) ($51) Proceeds from issuance of common stock ($61-$55) $6 Payment for dividends ($49) ($94)

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