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(Appendix 14A) The change in each of Kendall Corporation's balance sheet accounts last year follows:
Kendall Corporation's income statement for the year was:
There were no sales or retirements of property, plant, and equipment and no dividends paid during the year. The company pays no income taxes and it did not purchase any long-term investments, issue any bonds payable, or repurchase any of its own common stock. The net cash provided by (used in) operating activities on the statement of cash flows is determined using the direct method.
-The net cash provided by (used in) investing activities would be:
Outstanding Voting Shares
The total number of shares of a corporation that are held by shareholders and eligible to vote at shareholder meetings.
Fair Value
The market value of an asset or liability, based on the current price at which it can be sold or settled.
Unrealized Loss
A loss that results from holding an asset that has decreased in value, but the asset has not yet been sold.
Deferred Tax Asset
This asset arises when a company pays more taxes to the government than it currently owes in its financial statements, to be used for future tax relief.
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