Total current liabilities 192 154 Bonds payable 93 152 Total liabilities 285 306 Stockholders' equity: Common stock 55 46 Retained earnings 169 121
Total current liabilities 192 154 Bonds payable 93 152 Total liabilities 285 306 Stockholders' equity: Common stock 55 46 Retained earnings 169 121
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Income Statement
Sales
$ 783
581
Cost of goods sold
Gross margin
Selling and administrative expense
Net operating income
Gain on sale of plant and equipment
202
132
70
25
Income before taxes
95
Income taxes
35
Net income
$ 60
Cash dividends were $12. 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:

Transcribed Image Text:Marbry Corporation's balance sheet and income statement appear below:
Comparative Balance Sheet
Ending
Beginning
Balance
Balance
Assets:
Current assets:
$ 66
$ 47
Cash and cash equivalents
Accounts receivable
56
66
Inventory
86
66
Total current assets
208
179
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipment
580
560
279
266
301
294
Total assets
$ 509
$ 473
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$ 79
$ 61
Accrued liabilities
52
32
Income taxes payable
61
61
Total current liabilities
192
154
Bonds payable
93
152
Total liabilities
285
306
Stockholders' equity:
Common stock
55
46
Retained earnings
Total stockholders' equity
169
121
224
167
Total liabilities and stockholders' equity
$ 509
$ 473
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