At the end of last year, the company's assets totaled $860,000 and its liabilities totaled $740,000. During the current year, the company's total assets increased by $58,000 and its total liabilities increased by $24,000. At the end of the current year, stockholders' equity was a. $154,000. b. $120,000 c. $34,000. d. $178,000
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5) MC Qu. 67 Swinger Corporations comparative ...
Swinger Corporation's comparative balance sheet appears below:
| Ending Balance | Beginning Balance | |
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $47,000 | $31,000 |
| Accounts receivable | 23,000 | 22,000 |
| Inventory | 66,000 | 64,000 |
| Total current assets | 136,000 | 117,000 |
| Property, plant, and equipment | 356,000 | 338,000 |
| Less accumulated depreciation | 184,000 | 161,000 |
| Net property, plant, and equipment | 172,000 | 177,000 |
| Total assets | $308,000 | $294,000 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $17,000 | $16,000 |
| Accrued liabilities | 43,000 | 44,000 |
| Income taxes payable | 63,000 | 61,000 |
| Total current liabilities | 123,000 | 121,000 |
| Bonds payable | 83,000 | 80,000 |
| Total liabilities | 206,000 | 201,000 |
| Stockholders' equity: | ||
| Common stock | 27,000 | 24,000 |
| Retained earnings | 75,000 | 69,000 |
| Total stockholders' equity | 102,000 | 93,000 |
| Total liabilities and stockholders' equity | $308,000 | $294,000 |
The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $10,000. The net cash provided by operating activities is:
A)$36,000
B)$32,000
C)$28,000
D)$34,000
