Question

Foxworthy Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $36 $35 Accounts receivable 71 63 Inventory 63 64 Plant equipment 552 500 Less accumulated depreciation 336 319 Total assets.................................. $386 $343 Liabilities and stockholders' equity Accounts payable $42 $48 Wages payable 16 18 Taxes payable 16 14 Bonds payable 89 100 Deferred taxes 15 20 Common stock 31 30 Retained earnings 177 113 Total liabilities and stockholders' equity $386 $343 Net income for the year was $79. Cash dividends were $15. The net cash provided by (used by) operations for the year was: A. $80 B. $78 C. ($1) D. $113

          Foxworthy Corporation's most recent balance sheet appears below:

Comparative Balance Sheet
Ending Balance   Beginning Balance
Assets:
Cash and cash equivalents $36 $35
Accounts receivable 71 63
Inventory 63 64
Plant equipment 552 500
Less accumulated depreciation 336 319
Total assets.................................. $386 $343

Liabilities and stockholders' equity
Accounts payable $42 $48
Wages payable 16 18
Taxes payable 16 14
Bonds payable 89 100
Deferred taxes 15 20
Common stock 31 30
Retained earnings 177 113
Total liabilities and stockholders' equity $386 $343

Net income for the year was $79. Cash dividends were $15. The net cash provided by (used by) operations for the year was: A. $80 B. $78 C. ($1) D. $113

Added by Francisco M.

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