Hocking Corporation\'s comparative balance sheet appears below: Ending Balance B

Question

Hocking Corporation's comparative balance sheet appears below: Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $69,600 $31,700 Accounts receivable 26,400 32,600 Inventory 69,400 67,600 Prepaid expenses 14,400 17,600 Total current assets 179,800 149,500 Property, plant and equipment 372,000 346,500 Loss accumulated depreciation 169,000 144,500 Net property, plant, and equipment 203,000 202,000 Total assets $382,800 $351,500 Liabilities and Stockholder's Equity: Current liabilities: Accounts payable $19,600 $15,000 Accrued liabilities 67,600 56,000 Income taxes payable 56,600 53,000 Total current liabilities 143,800 124,000 Bonds payable 85,000 87,000 Total liabilities 228,800 211,000 Stockholder's equity: Common stock 34,500 30,000 Retained earnings 119,500 110,500 Total stockholder's equity 154,000 140,500 Total liabilities and stockholder's equity $382,800 351,500 The company's net income (loss) for the year was $11,500 and its cash dividends were $2,500. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. The company's net cash provided by operating activities is: $27,700 $65,200 $51,200 $63,400

Explanation / Answer

$63,400

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