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Homework answers / question archive / Marbry Corporation's balance sheet and income statement appear below:   Marbry Corporation's Comparative Balance Sheet   Ending Balance Beginning Balance   Assets       Current assets:         Cash and cash equivalents $ 34       $ 31           Accounts receivable 41       50           Inventory 54       50         Total current assets 129       131         Property, plant and equipment 450       400           Less: accumulated depreciation 255       250         Net property, plant, and equipment 195        150         Total assets $324       $281         Liabilities and stockholders' equity       Current liabilities:         Accounts payable $ 47       $ 45           Accrued liabilities 20       16           Income taxes payable 45       45         Total current liabilities 112       106         Bonds payable 103       120         Total liabilities 215       226         Stockholders' equity:         Common stock 35       30           Retained earnings 74       25         Total stockholders' equity 109      55         Total liabilities and stockholders' equity $324       $281           Income Statement   Sales $650     Cost of goods sold 317     Gross margin 333     Selling and administrative expenses 266     Net operating income 67     Gain on sale of plant and equipment 19     Income before taxes 86     Income taxes 32     Net income $ 54   Cash dividends were $5

Marbry Corporation's balance sheet and income statement appear below:   Marbry Corporation's Comparative Balance Sheet   Ending Balance Beginning Balance   Assets       Current assets:         Cash and cash equivalents $ 34       $ 31           Accounts receivable 41       50           Inventory 54       50         Total current assets 129       131         Property, plant and equipment 450       400           Less: accumulated depreciation 255       250         Net property, plant, and equipment 195        150         Total assets $324       $281         Liabilities and stockholders' equity       Current liabilities:         Accounts payable $ 47       $ 45           Accrued liabilities 20       16           Income taxes payable 45       45         Total current liabilities 112       106         Bonds payable 103       120         Total liabilities 215       226         Stockholders' equity:         Common stock 35       30           Retained earnings 74       25         Total stockholders' equity 109      55         Total liabilities and stockholders' equity $324       $281           Income Statement   Sales $650     Cost of goods sold 317     Gross margin 333     Selling and administrative expenses 266     Net operating income 67     Gain on sale of plant and equipment 19     Income before taxes 86     Income taxes 32     Net income $ 54   Cash dividends were $5

Finance

Marbry Corporation's balance sheet and income statement appear below:

 

Marbry Corporation's
Comparative Balance Sheet

 

Ending
Balance

Beginning
Balance

  Assets

 

 

  Current assets:

 

 

    Cash and cash equivalents

$ 34      

$ 31      

    Accounts receivable

41      

50      

    Inventory

54      

50      

  Total current assets

129      

131      

  Property, plant and equipment

450      

400      

    Less: accumulated depreciation

255      

250      

  Net property, plant, and equipment

195       

150      

  Total assets

$324      

$281      

  Liabilities and stockholders' equity

 

 

  Current liabilities:

 

 

    Accounts payable

$ 47      

$ 45      

    Accrued liabilities

20      

16      

    Income taxes payable

45      

45      

  Total current liabilities

112      

106      

  Bonds payable

103      

120      

  Total liabilities

215      

226      

  Stockholders' equity:

 

 

    Common stock

35      

30      

    Retained earnings

74      

25      

  Total stockholders' equity

109     

55      

  Total liabilities and stockholders' equity

$324      

$281      

 

  Income Statement

  Sales

$650  

  Cost of goods sold

317  

  Gross margin

333  

  Selling and administrative expenses

266  

  Net operating income

67  

  Gain on sale of plant and equipment

19  

  Income before taxes

86  

  Income taxes

32  

  Net income

$ 54  

Cash dividends were $5. 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:

$(5)

$(17)

$5

$(17)

 

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