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blushtoad595Lv1
28 Sep 2019
Financial statements of Ansbro Corporation follow:
Ansbro Corporation
Comparative Balance Sheet Ending
Balance Beginning
Balance Assets: Cash and cash equivalents $32 $29 Accounts receivable 82 80 Inventory 41 39 Property, plant and equipment 648 560 Less: accumulated depreciation 346
307
Total assets $457
$401
Liabilities and stockholders' equity: Accounts payable $49 $68 Bonds payable 135 190 Common stock 92 80 Retained earnings 181
63
Total liabilities and stockholders' equity $457
$401
Income Statement Sales $745 Cost of goods sold 373
Gross margin 372 Selling and administrative expenses 127
Net operating income 245 Income taxes 87
Net income $158
Cash dividends were $40. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
The net cash provided by (used in) investing activities for the year was:
$12
$(88)
$(55)
$(40)
Financial statements of Ansbro Corporation follow: |
Ansbro Corporation Comparative Balance Sheet | ||
Ending Balance | Beginning Balance | |
Assets: | ||
Cash and cash equivalents | $32 | $29 |
Accounts receivable | 82 | 80 |
Inventory | 41 | 39 |
Property, plant and equipment | 648 | 560 |
Less: accumulated depreciation | 346 | 307 |
Total assets | $457 | $401 |
Liabilities and stockholders' equity: | ||
Accounts payable | $49 | $68 |
Bonds payable | 135 | 190 |
Common stock | 92 | 80 |
Retained earnings | 181 | 63 |
Total liabilities and stockholders' equity | $457 | $401 |
Income Statement | |
Sales | $745 |
Cost of goods sold | 373 |
Gross margin | 372 |
Selling and administrative expenses | 127 |
Net operating income | 245 |
Income taxes | 87 |
Net income | $158 |
Cash dividends were $40. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. |
The net cash provided by (used in) investing activities for the year was: |
$12
$(88)
$(55)
$(40)
Collen VonLv2
28 Sep 2019