Hocking Corporation s comparative... Hocking Corporation\'s comparative balance

Question

Hocking Corporation s comparative...

Hocking Corporation's comparative balance sheet appears below:

21,600   

24,000   

173,600   

156,000   

190,000   

158,000   

178,000   

186,000   

$351,600   

$342,000   

57,400   

54,000   

56,000   

84,000   

216,200   

227,000   

92,700   

70,000   

135,400   

115,000   

$351,600   

$342,000   

The company's net income (loss) for the year was $28,000 and its cash dividends were $5,300. It did not sell or retire any property, plant, and equipment during the year.

Hocking Corporation's comparative balance sheet appears below:

Explanation / Answer

Hi,

Please find the answer as follows:

Net Cash Used in Investing Activities:

Purchase of Property Plant and Equipment = Value at the End of the Year - Value at the Beginning of the Year = 368000 - 344000 = 24000

Option B is correct.

Thanks.

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