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Posts: 138
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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 | $ 60,000 | $ 40,000 |
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| Accounts receivable | 34,000 | 40,000 |
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| Inventory | 76,000 | 70,000 |
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| Total current assets | 170,000 | 150,000 |
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| Property, plant, and equipment | 380,000 | 350,000 |
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| Less accumulated depreciation | 202,000 | 170,000 |
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| Net property, plant, and equipment | 178,000 | 180,000 |
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| Total assets | $ 348,000 | $ 330,000 |
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| Liabilities and stockholders' equity: | | |
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| Current liabilities: | | |
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| Accounts payable | $ 36,000 | $ 31,000 |
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| Accrued liabilities | 80,500 | 70,000 |
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| Income taxes payable | 64,000 | 60,000 |
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| Total current liabilities | 180,500 | 161,000 |
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| Bonds payable | 62,000 | 90,000 |
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| Total liabilities | 242,500 | 251,000 |
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| Stockholders’ equity: | | |
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| Common stock | 48,100 | 51,000 |
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| Retained earnings | 57,400 | 28,000 |
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| Total stockholders’ equity | 105,500 | 79,000 |
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| Total liabilities and stockholders' equity | $ 348,000 | $ 330,000 |
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The company's net income for the year was $36,000 and its cash dividends were $6,600. It did not sell or retire any property, plant, and equipment during the year. The company's net cash provided by (used in) investing activities is:v: 02_23_2016_QC_CS-43371 ▸ $62,000 ▸ $(2,000) ▸ $38,000 ▸ $(30,000)
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