Ansbro Corporation\'s most recent balance sheet appears below: Ansbro Corporatio

Question

Ansbro Corporation's most recent balance sheet appears below: Ansbro Corporation Comparative Balance Sheet Ending Beginning Balance Balance Assets Cash and cash equivalents Accounts receivable Inventory Property, plant and equipment Less: accumulated depreciation Total assets Liabilities and stockholders' equity Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $36 35 $%23 38 69 492 208 $414 562 212 $476 $43 19 27 231 $52 18 30 202 71 79 $476 $414 Net income for the year was $43. Cash dividends were $5. The company did not dispose of any property plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following question pertain to the company's statement of cash flows The net cash provided by (used in) operating activities for the year was

Explanation / Answer

Cash flows from operating activities: Net income 43 Adjustments: Depreciation expense 4 Decrease in accounts receivable 3 Decrease in inventory 14 Decrease in accounts payable -9 Increase in accrued liabilities 1 Decrease in income taxes payable -3 10 Net cash provided by(used in)operating activities 53

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