Carr Corporation's Comparative Balance Sheet and Income Statement for Last

question 49

Essay

Carr Corporation's comparative balance sheet and income statement for last year appear below:
The company declared and paid $47,000 in cash dividends during the year.It did not dispose of any property,plant,and equipment during the year.
Required:
Construct in good form the operating activities section of the company's statement of cash flows for the year using the direct method.

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Definitions:

Price-Earnings Ratio

A metric used to assess a company's value, comparing its current stock price to its earnings per share.

Long-Term Liabilities

Obligations or debts due by a company that are expected to be paid or settled over a period longer than one year.

Stockholders' Equity

The ownership interest of shareholders in a corporation, represented by the company’s assets minus its liabilities.

Earnings Per Share

A financial ratio calculated by dividing a company's net income by its number of outstanding shares, indicating the profitability per share.