Marbry Corporation\'s balance sheet and income statement appear below: Cash divi
ID: 2531781 • Letter: M
Question
Marbry Corporation's balance sheet and income statement appear below:
Cash dividends were $10. 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:
Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 44 $ 36 Accounts receivable 49 55 Inventory 64 55 Total current assets 157 146 Property, plant, and equipment 475 450 Less accumulated depreciation 264 255 Net property, plant, and equipment 211 195 Total assets $ 368 $ 341 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 57 $ 50 Accrued liabilities 30 21 Income taxes payable 50 50 Total current liabilities 137 121 Bonds payable 109 130 Total liabilities 246 251 Stockholders’ equity: Common stock 48 35 Retained earnings 74 55 Total stockholders’ equity 122 90 Total liabilities and stockholders' equity $ 368 $ 341Explanation / Answer
Redemption of Bonds payable -21 Issuance of Common stock 13 Cash dividends paid -10 Net cash provided by (used in) financing activities -18