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Posts: 119
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A year ago
Hirshberg Corporation's comparative balance sheet appears below: | Comparative Balance Sheet | | Ending Balance | Beginning Balance |
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| Assets: | | |
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| Current assets: | | |
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| Cash and cash equivalents | $ 42,000 | $ 31,000 |
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| Accounts receivable | 22,000 | 18,000 |
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| Inventory | 66,000 | 70,000 |
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| Total current assets | 130,000 | 119,000 |
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| Property, plant, and equipment | 401,000 | 377,000 |
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| Less accumulated depreciation | 207,000 | 177,000 |
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| Net property, plant, and equipment | 194,000 | 200,000 |
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| Total assets | $ 324,000 | $ 319,000 |
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| Liabilities and stockholders' equity: | | |
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| Current liabilities: | | |
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| Accounts payable | $ 15,000 | $ 17,000 |
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| Accrued liabilities | 45,000 | 38,000 |
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| Income taxes payable | 53,000 | 51,000 |
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| Total current liabilities | 113,000 | 106,000 |
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| Bonds payable | 83,000 | 91,000 |
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| Total liabilities | 196,000 | 197,000 |
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| Stockholders’ equity: | | |
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| Common stock | 27,000 | 28,000 |
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| Retained earnings | 101,000 | 94,000 |
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| Total stockholders’ equity | 128,000 | 122,000 |
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| Total liabilities and stockholders' equity | $ 324,000 | $ 319,000 |
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The company's net income for the year was $11,000 and its cash dividends were $4,000. It did not sell or retire any property, plant, and equipment during the year. The company's net cash provided by (used in) operating activities is: ▸ $48,000 ▸ $18,000 ▸ $40,000 ▸ $52,000
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