Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 560 **=*=* 392 168 112 $39 Ending Beginning Balance Balance $ 30 51 42 426 213 $336 $ 83 216 85 (48) $ 336 $ 35 56 43 400 200 $ 334 $69 260 84 (79) $ 334 Cash dividends were $8. 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) operating activities for the year was:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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O
$27
$64
$79
$72
Transcribed Image Text:O $27 $64 $79 $72
Financial statements of Rukavina Corporation follow:
Comparative Balance Sheet
Assets:
Cash and cash equivalents
Accounts receivable
Inventory
Property, plant, and equipment
Less accumulated depreciation
Total assets
Liabilities and stockholders' equity:
Accounts payable
Bonds payable
Common stock
Retained earnings
Total liabilities and stockholders' equity
Income Statement
Sales
Cost of goods sold
Gross margin
Selling and administrative expense
Net operating income
Income taxes
Net income
$ 560
392
BERSA
168
112
$ 39
Ending Beginning
Balance
Balance
$ 30
51
42
426
213
$336
$ 83
216
85
(48)
$ 336
$ 35
56
43
400
200
$ 334
$ 69
260
84
(79)
$ 334
Cash dividends were $8. 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) operating activities for the year was:
Transcribed Image Text:Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 560 392 BERSA 168 112 $ 39 Ending Beginning Balance Balance $ 30 51 42 426 213 $336 $ 83 216 85 (48) $ 336 $ 35 56 43 400 200 $ 334 $ 69 260 84 (79) $ 334 Cash dividends were $8. 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) operating activities for the year was:
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