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Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets:
Hirshberg Corporation's comparative balance sheet appears below:
Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$56,000 $36,000 Accounts receivable 30,400 36,000 Inventory 71,600 66,000 Total current assets 158,000 138,000 Property, plant, and equipment 372,000 346,000 Less accumulated depreciation 194,000 162,000 Net property, plant, and equipment 178,000 184,000 Total assets$336,000 $322,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable$31,600 $27,000 Accrued liabilities 78,200 66,000 Income taxes payable 59,600 56,000 Total current liabilities 169,400 149,000 Bonds payable 58,000 86,000 Total liabilities 227,400 235,000 Stockholders' equity: Common stock 44,500 47,000 Retained earnings 64,100 40,000 Total stockholders' equity 108,600 87,000 Total liabilities and stockholders' equity$336,000 $322,000
The company's net income for the year was $30,000 and its cash dividends were $5,900. It did not sell or retire any property, plant, and equipment during the year.
The company's net cash provided by (used in) investing activities is
