Posts: 143
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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) investing activities is: Garrison 16e Rechecks 2017-09-22▸ $(6,000) ▸ $(54,000) ▸ $(24,000) ▸ $(44,000)
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