Tani Corporation's most recent balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Total current liabilities Bonds payable Total liabilities Inventory Total current assets Stockholders' equity: Common stock Retained earnings Multiple Choice ($45) $45 ($3) $3 Ending Balance Beginning Balance 52 183 Total stockholders' equity 235 Total liabilities and stockholders' equity $ 349 $ 52 37 57 146 515 312 203 $ 349 $ 54 54 60 114 $ 40 32 63 The company's net income for the year was $18 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $4. The net cash provided by (used in) investing activities for the year was: 135 470 270 200 $ 335 $ 46 46 70 116 50 169 219 $ 335

Tani Corporation's most recent balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Total current liabilities Bonds payable Total liabilities Inventory Total current assets Stockholders' equity: Common stock Retained earnings Multiple Choice ($45) $45 ($3) $3 Ending Balance Beginning Balance 52 183 Total stockholders' equity 235 Total liabilities and stockholders' equity $ 349 $ 52 37 57 146 515 312 203 $ 349 $ 54 54 60 114 $ 40 32 63 The company's net income for the year was $18 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $4. The net cash provided by (used in) investing activities for the year was: 135 470 270 200 $ 335 $ 46 46 70 116 50 169 219 $ 335

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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