Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income. $ 760 532 228 152 76 23 $53 Ending Beginning Balance Balance 328 $ 590 $ 143 416 105 (74) $ 590 $ 69 111 82 656 300 $ 574 $ 109 460 104 (99) $574 $ 75 116 83 600 Cash dividends were $28. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows The net cash provided by (used in) operating activities for the year was:

Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income. $ 760 532 228 152 76 23 $53 Ending Beginning Balance Balance 328 $ 590 $ 143 416 105 (74) $ 590 $ 69 111 82 656 300 $ 574 $ 109 460 104 (99) $574 $ 75 116 83 600 Cash dividends were $28. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows The net cash provided by (used in) operating activities for the year was:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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