Sonier Corporation\'s most recent balance sheet appears below: 256 220 $544 $474

Question

Sonier Corporation's most recent balance sheet appears below:

256      

220      

$544      

$474      

180      

67      

$544      

$474      

The net income for the year was $160. Cash dividends were $47. 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:

Sonier Corporation's
Comparative Balance Sheet Ending
Balance Beginning
Balance   Assets:   Cash and cash equivalents $ 48       $ 40         Accounts receivable 91       84         Inventory 73       70         Property, plant and equipment 588       500         Less: accumulated depreciation

256      

220      

  Total assets

$544      

$474      

  Liabilities and stockholders' equity:   Accounts payable $ 64       $ 62         Bonds payable 250       300         Common stock 50       45         Retained earnings

180      

67      

  Total liabilities and stockholders' equity

$544      

$474      

Explanation / Answer

Cash Provided by Financing Activities Decrease in Bonds Payable -50 (250-300) Cash Dividend Paid -47 Common Stock issued 5 Cash used by Financing Activities -92

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