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Alcoser Corporation's most recent balance sheet appears below:Comparative Balance SheetEnding ...

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Alcoser Corporation's most recent balance sheet appears below:Comparative Balance SheetEnding ...

Alcoser Corporation's most recent balance sheet appears below:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Assets:
Cash and cash equivalents	$ 34	$ 29
Accounts receivable	32	36
Inventory	53	66
Property, plant, and equipment	554	480
Less accumulated depreciation	208	206
Total assets	$ 465	$ 405
Liabilities and stockholders' equity:
Accounts payable	$ 41	$ 50
Accrued liabilities	17	16
Income taxes payable	28	30
Bonds payable	217	200
Common stock	75	70
Retained earnings	87	39
Total liabilities and stockholders' equity	$ 465	$ 405

Net income for the year was $60. Cash dividends were $12. 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) financing activities for the year was:

▸

$10

▸

$(12)

▸

$17

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

Read 70 times

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