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Solution Library
how to calculate net cash flow provided financing activities
Question
Gayles Corporation's most recent balance sheet appears below:
|
Gayles Corporation |
||
|
Ending |
Beginning |
|
|
Assets: |
||
|
Cash and cash equivalents |
$ 51 |
$ 43 |
|
Accounts receivable |
94 |
87 |
|
Inventory |
76 |
73 |
|
Property, plant and equipment |
618 |
530 |
|
Less: accumulated depreciation |
262 |
226 |
|
Total assets |
$577 |
$507 |
|
Liabilities and stockholders' equity: |
||
|
Accounts payable |
$ 67 |
$ 65 |
|
Bonds payable |
277 |
330 |
|
Common stock |
83 |
75 |
|
Retained earnings |
150 |
37 |
|
Total liabilities and stockholders' equity |
$577 |
$507 |
The net income for the year was $166. Cash dividends were $53. The company did not issue any bonds or repurchase any of its common stock during the year. The net cash provided by (used in) financing activities for the year was:
a. $ (98)
b. $ (52)
c. $ (53)
d. $ 8
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