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Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities. Stockholders' equity: Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity Ending Beginning Balance Balance $ 64 57 84 205 575 278 297 $ 502 $ 77 50 60 187 110 297 53 152 205 $ 502 $ 46 65 65 176 550 265 285 $ 461 $ 60 31 60 151. 150 301 45 115 160 $ 461

Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities. Stockholders' equity: Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity Ending Beginning Balance Balance $ 64 57 84 205 575 278 297 $ 502 $ 77 50 60 187 110 297 53 152 205 $ 502 $ 46 65 65 176 550 265 285 $ 461 $ 60 31 60 151. 150 301 45 115 160 $ 461

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities. Stockholders' equity: Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity. Ending Balance $ 64 57 84 205 575 278 297 $ 502 $ 77 50 60 187 110 297 53 152 205 S 502 Beginning Balance $ 46 65 65 176 550 265 285 $ 461 $ 60 31 60 151 150 301 45 115 160 $461
Transcribed Image Text:Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities. Stockholders' equity: Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity. Ending Balance $ 64 57 84 205 575 278 297 $ 502 $ 77 50 60 187 110 297 53 152 205 S 502 Beginning Balance $ 46 65 65 176 550 265 285 $ 461 $ 60 31 60 151 150 301 45 115 160 $461
otal liabilities and stockholders' equity iales Cost of goods sold Gross margin Selling and administrative expense. Net operating income. Gain on sale of plant and equipment Incone before taxes Income taxes Net income Mutiple Choice Income Statement SOT Income taxes Net income Cash dividends were $11. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by used in) financing activities for the year was: Multiple Choice O O $(43) Cash dividends were $11. The company did not issue any bonds or repurchase any of its own common stock during the year. The (used in) financing activities for the year was: $(11) $ 600 373 227 165 $8 62 13 75 27 $ 48 $40 $ 502 $ 461 27 $ 48
Transcribed Image Text:otal liabilities and stockholders' equity iales Cost of goods sold Gross margin Selling and administrative expense. Net operating income. Gain on sale of plant and equipment Incone before taxes Income taxes Net income Mutiple Choice Income Statement SOT Income taxes Net income Cash dividends were $11. The company did not issue any bonds or repurchase any of its own common stock during the year. The net cash provided by used in) financing activities for the year was: Multiple Choice O O $(43) Cash dividends were $11. The company did not issue any bonds or repurchase any of its own common stock during the year. The (used in) financing activities for the year was: $(11) $ 600 373 227 165 $8 62 13 75 27 $ 48 $40 $ 502 $ 461 27 $ 48
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