Question

Krech Corporation's comparative balance sheet appears below:

Comparative Balance Sheet
	Ending Balance			Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$	33,000		$	26,300
Accounts receivable		19,000			22,000
Inventory		62,000			59,000
Prepaid expenses		12,400			10,200
Total current assets		126,400			117,500
Property, plant, and equipment		398,000			378,000
Less accumulated depreciation		199,000			170,100
Net property, plant, and equipment		199,000			207,900
Total assets	$	325,400		$	325,400
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$	16,200		$	11,000
Accrued liabilities		54,000			58,000
Income taxes payable		72,000			74,000
Total current liabilities		142,200			143,000
Bonds payable		82,000			77,000
Total liabilities		224,200			220,000
Stockholders’ equity:
Common stock		32,000			28,000
Retained earnings		69,200			77,400
Total stockholders’ equity		101,200			105,400
Total liabilities and stockholders' equity	$	325,400		$	325,400

The company's net income (loss) for the year was $(4,100) and its cash dividends were $4,100. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.

The company's net cash provided by (used in) operating activities is:

Show work.

Answer 1