Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment Income before taxes Income taxes Net income $ 705 ****-*** Ending Balance $ 38 49 58 145 460 258 202 $ 347 524 $ 51 47 122 97 219 268 42 86 128 $ 347 Beginning Balance $ 33 52 52 137 420 252 168 $ 305 $ 47 18 47 112 124 236 32 37 69 $ 305 Cash dividends were $7. 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:

Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Gain on sale of plant and equipment Income before taxes Income taxes Net income $ 705 **-* Ending Balance $ 38 49 58 145 460 258 202 $ 347 524 $ 51 47 122 97 219 268 42 86 128 $ 347 Beginning Balance $ 33 52 52 137 420 252 168 $ 305 $ 47 18 47 112 124 236 32 37 69 $ 305 Cash dividends were $7. 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:

Name: OO$27$10$(24)$(7) Marbry Corporation's balance sheet and income state
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Description: OO$27$10$(24)$(7) Marbry Corporation's balance sheet and income statement appear below:Comparative Balance SheetAssets:Current assets:Cash and cash equivalentsAccounts receivableInventoryTotal current assetsProperty, plant, and equipmentLess accumul

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing

Section: Chapter Questions

Problem 14E

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What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets?
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