|
Cezar Corporation’s comparative balance sheet appears below: |
| Cezar Corporation Comparative Balance Sheet |
||
| Ending Balance |
Beginning Balance |
|
| Assets: | ||
| Current assets: | ||
| Cash and cash equivalents | $ 50,000 | $ 34,000 |
| Accounts receivable | 18,000 | 24,000 |
| Inventory |
60,000 |
54,000 |
| Total current assets |
128,000 |
112,000 |
| Property, plant, and equipment | 364,000 | 340,000 |
| Less accumulated depreciation |
187,000 |
154,000 |
| Net property, plant, equipment |
177,000 |
186,000 |
| Total assets |
$305,000 |
$298,000 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $ 12,500 | $ 14,000 |
| Accrued liabilities | 47,500 | 54,000 |
| Income taxes payable |
49,000 |
44,000 |
| Total current liabilities | 109,000 | 112,000 |
| Bonds payable |
82,000 |
74,000 |
| Total liabilities |
191,000 |
186,000 |
| Stockholders’ equity: | ||
| Common stock | 27,000 | 34,000 |
| Retained earnings |
87,000 |
78,000 |
| Total stockholders’ equity |
114,000 |
112,000 |
| Total liabilities and stockholders’ equity |
$305,000 |
$298,000 |
|
The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $15,000 and its cash dividends were $6,000. The company did not retire any bonds payable or issue any common stock during the year. Its net cash provided by operating activities and net cash used in financing activities are: |
| net cash provided by operating activities, $45,000; net cash used in financing activities,$5,000 | |
| net cash provided by operating activities, $39,000; net cash used in financing activities,$14,000 | |
| net cash provided by operating activities, $39,000; net cash used in financing activities,$5,000 | |
| net cash provided by operating activities, $45,000; net cash used in financing activities,$14,000
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