Schleich Corporation\'s most recent balance sheet appears below: Schleich Corpor

Question

Schleich Corporation's most recent balance sheet appears below:

Schleich Corporation
Comparative Balance Sheet
Ending Balance Beginning Balance

Assets:
Cash and cash equivalents $ 52 $ 41
Accounts receivable 48 25
Inventory 62 87
Property, plant and equipment 764 565
Less: accumulated depreciation 315 284
Total assets $611 $434

Liabilities and stockholders' equity:
Accounts payable $ 43 $ 59
Accrued liabilities 32 24
Income taxes payable 55 45
Bonds payable 142 158
Common stock 97 92
Retained earnings 242 56
Total liabilities and stockholders' equity $611 $434

Net income for the year was $380. Cash dividends were $72. 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:
$415
$545
$35
$345

Explanation / Answer

Net income for the year was $380. Cash dividends were $72. 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: $415

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