(Solved) The balance sheet for Bostick Corporation follows:Ending balanceBeginning balanceAssets:Current asse

The balance sheet for Bostick Corporation follows:

   Ending balance   Beginning balance
Assets:
Current assets:
Cash and cash equivalents   $58,400   $44,600
Accounts receivable   $19,000   $22,300
Inventory   $48,900   $53,000
Total current assets   $126,300   $119,900
Property, plant, and equipment   $287,800   $275,300
Less accumulated depreciation   $108,600   $101,550
Net property, plant, and equipment   $179,200   $173,750
Total assets   $305,500   $293,650

Liabilities and stockholders' equity:
Current liabilities:
Accounts payable   $26,030   $29,580
Wages payable   $41,600   $47,100
Other accounts payable   $41,900   $35,400
Notes payable   $24,200   $25,200
Total current liabilities   $133,730   $137,280
Long-term debt   $73,500   $79,500
Deferred income taxes   $19,520   $17,000
Total liabilities   $93,020   $96,500
Stockholders' equity:
Common stock   $54,000   $45,000
Retained earnings   $24,750   $14,870
Total stockholders' equity   $78,750   $59,870
Total liabilities and stockholders' equity   $305,500   $293,650

Operating income during the period was $13,650, while cash dividends paid were $3,770. The total sources of cash at Bostick Corporation during the year was
A) $46,120.
B) $39,070.
C) $32,320.
D) $13,800.

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The balance sheet for Bostick Corporation follows:Ending balanceBeginning balanceAssets:Current asse

Managerial Accounting

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