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Solution Library
how to calculate net cash flow provided by investing activities
Question
Dooling Corporation's balance sheet and income statement appear below:
|
Dooling Corporation |
||
|
Ending |
Beginning |
|
|
Assets: |
||
|
Cash and cash equivalents |
$ 40 |
$ 41 |
|
Accounts receivable |
73 |
72 |
|
Inventory |
52 |
50 |
|
Property, plant and equipment |
592 |
505 |
|
Less: accumulated depreciation |
239 |
272 |
|
Total assets |
$518 |
$396 |
|
Liabilities and stockholders' equity: |
||
|
Accounts payable |
$ 47 |
$ 51 |
|
Accrued liabilities |
24 |
23 |
|
Income taxes payable |
52 |
56 |
|
Bonds payable |
101 |
95 |
|
Common stock |
76 |
75 |
|
Retained earnings |
218 |
96 |
|
Total liabilities and stockholders' equity |
$518 |
$396 |
|
Income Statement |
|
|
Sales |
$810 |
|
Cost of goods sold |
481 |
|
Gross margin |
329 |
|
Selling and administrative expenses |
146 |
|
Net operating income |
183 |
|
Gain on sale of plant and equipment |
21 |
|
Income before taxes |
204 |
|
Income taxes |
61 |
|
Net income |
$ 143 |
Cash dividends were $21. The company sold equipment for $39 that was originally purchased for $21 and that had accumulated depreciation of $3. The net cash
provided by (used in) investing activities for the year was:
a. $(108)
b. $69
c. $39
d. $(69)
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