Schleich Corporation\'s most recent balance sheet appears below: Comparative Bal

Question

Schleich Corporation's most recent balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $77 $53 Accounts receivable 49 37 Inventory 54 65 Property, plant and equipment 747 576 Less accumulated depreciation 272 253 Total assets $655 $478 Liabilities and stockholder's equity: Accounts payable $63 $75 Accrued liabilities 28 21 Income taxes payable 48 41 Bonds payable 161 216 Common stock 95 86 Retained earnings 260 39 Total liabilities and stockholder's equity $655 $478 Net income for the year was $280. Cash dividends were $59. The company did not sell or retire any property, plant, and equipment during the year. The net cash provided by operating activities for the year was: $20 $359 $412 $300

Explanation / Answer

C) 359$

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