18. Mattix Corporation\'s balance sheet and income statement appear below Compar

Question

18. Mattix Corporation's balance sheet and income statement appear below Comparative Balance Sheet Ending Balance Beginning Balance Assets Cash and cash equivalents Accounts receivable Inventory $22 $23 39 43 40 1587 1500 Property, plant and equipment 347 Less accumulated depreciation 359 $333 $259 Total assets Liabilities and stockholders' equity: Accounts payable Accrued liabilities $30 $26 15 18 Income taxes payable 39 40 109 51 89 $333 Bonds payable 120 Common stock 50 Retained earnings Total liabilities and stockholders' equity $259

Explanation / Answer

Cash Flows from Operating Activities Net Income 116 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation expense 13 Gain on sale of Equipment -14 Decrease in Accounts Receivable 1 Decrease in inventory 1 Increase in Accounts Payable -4 Decrease in accrued liabilities -3 Decrease in Income taxes payable -1 -7 Net Cash Provided by Operating Activities 109

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.