Rukavina Corporation Comparative Balance Sheet EndingBeginning Balance Balance A
ID: 2595708 • Letter: R
Question
Rukavina Corporation Comparative Balance Sheet EndingBeginning 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 $49 72 56 496 248 $425 57 470 235 $418 $104 286 92 (57) $425 $83 330 91 (86) $418 Income Statement Sales Cost of goods solo Gross margin Selling and administrative expenses Net operating income Income taxes Net income $630 441 189 126 63 19 $44 Cash dividends were $15. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows The net cash provided by (used in) Operating activities for the year was O $34 O $86 O $84 O $76Explanation / Answer
SOLUTION
Net cash provided by operating activities is $84.
Amount ($) Amount ($) Net income 44 Adjustments to convert net income to a cash basis: Depreciation ($248-$235) 13 Decrease in accounts receivable ($77-$72) 5 Decrease in inventory ($57-$56) 1 Increase in accounts payable ($104-$83) 21 40 Net cash provided by (used in) operating activities 84Related Questions
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