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Stone Retail Corporation's most recent comparative Balance Sheet is as follows:Comparative Balance ...

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Stone Retail Corporation's most recent comparative Balance Sheet is as follows:Comparative Balance ...

Stone Retail Corporation's most recent comparative Balance Sheet is as follows:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Assets:
Cash and cash equivalents	$ 51,000	$ 64,000
Accounts receivable	83,000	41,000
Inventory	96,000	87,000
Property, plant, and equipment	120,000	120,000
Less accumulated depreciation	65,000	50,000
Total assets	$ 285,000	$ 262,000
Liabilities and stockholders' equity:
Accounts payable	$ 12,000	$ 38,000
Income taxes payable	1,000	3,000
Bonds payable	30,000	5,000
Common stock	100,000	80,000
Retained earnings	142,000	136,000
Total liabilities and stockholders' equity	$ 285,000	$ 262,000

Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows.

What is Stone's net cash provided by (used in) investing activities?

▸

$(15,000)

▸

$25,000

▸

$45,000

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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usmc2rn Author

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Correct

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Good timing, thanks!

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