Select Page
  

Krech Corporation’s comparative balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$52,000 $35,800 Accounts receivable 28,500 41,000 Inventory 100,000 87,500 Prepaid expenses 16,200 12,100 Total current assets 196,700 176,400 Property, plant, and equipment 626,000 606,000 Less accumulated depreciation 313,000 272,700 Net property, plant, and equipment 313,000 333,300 Total assets$509,700 $509,700 Liabilities and stockholders’ equity: Current liabilities: Accounts payable$46,700 $30,000 Accrued liabilities 73,000 105,500 Income taxes payable 119,500 121,500 Total current liabilities 239,200 257,000 Bonds payable 139,000 115,000 Total liabilities 378,200 372,000 Stockholders’ equity: Common stock 70,000 47,000 Retained earnings 61,500 90,700 Total stockholders’ equity 131,500 137,700 Total liabilities and stockholders’ equity$509,700 $509,700The company’s net income (loss) for the year was $(14,600) and its cash dividends were $14,600. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.The company’s net cash provided by (used in) operating activities is