Alcoser Corporation’s most recent balance sheet appears below: Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$ 48$ 27Accounts receivable3942Inventory5977
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Alcoser Corporation’s most recent balance sheet appears below:
Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$ 48$ 27Accounts receivable3942Inventory5977Property, plant, and equipment578504Less accumulated depreciation220212Total assets$ 504$ 438Liabilities and stockholders’ equity: Accounts payable$ 47$ 56Accrued liabilities2322Income taxes payable2734Bonds payable235206Common stock8175Retained earnings9145Total liabilities and equity$ 504$ 438
Net income for the year was $55. Cash dividends were $9. 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:
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