Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. financial statements of rukavina corporation follo

Financial statements of Rukavina Corporation follow: Comparative Balance Sheet...

90.2K

Verified Solution

Question

Accounting

Financial statements of Rukavina Corporation follow:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 36 $ 38
Accounts receivable 39 44
Inventory 34 35
Property, plant, and equipment 386 360
Less accumulated depreciation 202 191
Total assets $ 293 $ 286
Liabilities and stockholders' equity:
Accounts payable $ 71 $ 61
Bonds payable 176 220
Common stock 81 80
Retained earnings (35 ) (75 )
Total liabilities and stockholders' equity $ 293 $ 286

Income Statement
Sales $ 518
Cost of goods sold 336
Gross margin 183
Selling and administrative expense 113
Net operating income 69
Income taxes 21
Net income $ 48

Cash dividends were $8. 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 questions pertain to the company's statement of cash flows.

The net cash provided by (used in) financing activities for the year was:

Multiple Choice

$1

$(51)

$(8)

$(44)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students