Net cash provided by (used by) financing activities
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Question 33: Hanna Corporation's most recent balance sheet appears below:
Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 55 $ 44
Accounts receivable 55 50
Inventory 73 64
Plant and equipment 641 450
Accumulated depreciation ( 331) ( 345)
Total assets $493 $263
Liabilities and stockholders' equity:
Accounts payable $ 38 $ 51
Long-term debt 324 289
Common stock 35 29
Retained earnings 96 ( 106)
Total liabilities and stockholders' equity $493 $263
The net income for the year was $75. Cash dividends were $123. The net cash provided by (used by) financing activities for the year was:
($123)
$6
($82 )
$35.
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Solution Summary
This provides the steps to calculate the net cash provided by (used by) financing activities.
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The net cash provided by (used by) financing activities for the year was:
=Increase in Debt+Increase ...
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