Buckley Corporation\'s most recent comparative balance sheet appears below: The

Question

Buckley Corporation's most recent comparative balance sheet appears below:

The company's net income for the year was $91 and it paid a cash dividend of $22. It did not dispose of any property, plant, and equipment during the year. The company did not retire any bonds payable or repurchase any of its own common stock.

The free cash flow for the year was:

($8)

$14

$128

$308

Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $19 $20 Accounts receivable 26 27 Inventory 56 51 Property, plant and equipment 686 550 Less accumulated depreciation 430 363 Total assets $357 $285 Liabilities and stockholders' equity: Accounts payable $30 $34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $357 $285

Explanation / Answer

Buckley Corporation's most recent comparative balance sheet appears below: The

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