Lueckenhoff Corporation\'s most recent balance sheet appears below: 308 246 $588
ID: 2499789 • Letter: L
Question
Lueckenhoff Corporation's most recent balance sheet appears below:
308
246
$588
$502
132
(44)
$588
$502
The company's net income for the year was $186 and it did not sell or retire any property, plant, and equipment during the year. Cash dividends were $10. The net cash provided by (used in) operating activities for the year was:
Balance Beginning Balance Asset: Cash and cash equivalents $68 $46 Accounts receivable 78 58 Inventory 106 77 Property, plant and equipment 644 567 Less accumulated depreciation
308
246
Total assets$588
$502
Liabilities and stockholders' equity: Accounts payable $66 $62 Bonds payable 339 434 Common stock 51 50 Retained earnings132
(44)
Total liabilities and stockholders' equity.$588
$502
Explanation / Answer
Computation of net cash flow from operating activities
Particulars amount($)
Net income 186
Adjustments:
Depreciation 62
accounts receivable (20)
inventory (29)
accounts payable 4
bonds payable (95)
net cash flow from operating activities 108.
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