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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