Waldrop Corporation's comparative balance sheet appears below:
|
Ending
Balance |
Beginning Balance |
| Asset: |
|
|
| Current assets: |
|
|
| Cash and cash equivalents |
$51,400 |
$36,500 |
| Accounts receivable |
15,800 |
19,100 |
| Inventory |
70,800
|
74,100
|
| Total current assets |
138,000
|
129,700
|
| Property, plant and equipment |
352,000 |
327,000 |
| Less accumulated depreciation |
220,000
|
191,500
|
| Net property, plant, and equipment |
132,000
|
135,500
|
| Total assets |
$270,000
|
$265,200
|
| Liabilities and stockholders' equity: |
|
|
| Current liabilities: |
|
|
| Accounts payable |
$11,100 |
$9,800 |
| Accrued liabilities |
61,200 |
56,800 |
| Income taxes payable |
61,900
|
63,200
|
| Total current liabilities |
134,200 |
129,800 |
| Bonds payable |
80,800
|
83,200
|
| Total liabilities |
215,000
|
213,000
|
| Stockholders' equity: |
|
|
| Common stock |
39,500 |
41,500 |
| Retained earnings |
15,500
|
10,700
|
| Total stockholders' equity |
55,000
|
52,200
|
| Total liabilities and stockholders' equity |
$270,000
|
$265,200
|
The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $4,800. The net cash provided by operating activities is: