Shimko Corporation's Most Recent Comparative Balance Sheet and Income Statement

question 96

Multiple Choice

Shimko Corporation's most recent comparative balance sheet and income statement appear below: The company paid a cash dividend of $16 and it did not dispose of any property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock.The net cash provided by (used in) operating activities for the year was:

• A) $193
• B) $165
• C) $251
• D) $236

---

Definitions:

Price Ceiling

A legal maximum price at which a good can be sold, often set by government to control prices.

Housing Shortage

A situation where the supply of available houses is not sufficient to meet the demand for them in a particular area.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, achieving market equilibrium.

Excise Tax

A tax levied on specific goods, services, or transactions, often included directly in the price of the product like gasoline, alcohol, and tobacco.