Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents $ 44 $ 36 Accounts receivable 49 55 Inventory 64 55 Total current assets 157 146 Property,...

Extracted text: Comparative Balance Sheet Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents $ 44 $ 36 Accounts receivable 49 55 Inventory 64 55 Total current assets 157 146 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 475 450 264 255 211 195 Total assets $ 368 $ 341 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 57 $ 50 Accrued liabilities 30 21 Income taxes payable 50 50 Total current liabilities 137 121 Bonds payable 109 130 Total liabilities 246 251 Stockholders' equity: Common stock 48 35 Retained earnings Total stockholders’ equity 74 55 122 90 Total liabilities and stockholders' equity $ 368 $ 341


Extracted text: Income Statement Sales $ 613 400 Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment 213 185 28 17 Income before taxes 45 Income taxes 16 Net income $ 29 Cash dividends were $10. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by (used in) financing activities for the year was: