62.) Using Financial Statements for 2018-2019. The amount of shares of preferred stock for 2019 is 10,959.90.TRUE OR FALSE? **Balance Sheet and Income Statement Overview (2018-2019)**---**Balance Sheet****Assets:**1. **Current Assets:** - Cash: - 2019: $5,100,000 - 2018: $4,900,000 - Marketable Securities: - 2019: $102,000 - 2018: $98,000 - Accounts Receivable: - 2019: $1,632,000 - 2018: $1,568,000 - Inventories: - 2019: $2,856,000 - 2018: $2,744,000 - **Total Current Assets:** - 2019: $9,690,000 - 2018: $9,310,0002. **Fixed Assets:** - Property, Plant, & Equipment: - 2019: $3,264,000 - 2018: $3,136,000 - Other Fixed Assets: - 2019: $2,703,000 - 2018: $2,597,000 - **Total Fixed Assets:** - 2019: $5,733,000 - 2018: $5,733,0003. **Total Assets:** - 2019: $15,657,000 - 2018: $15,043,000**Liabilities and Equity:**1. **Liabilities:** - Current Liabilities: - Accounts Payable: - 2019: $1,878,840 - 2018: $1,805,160 - Notes Payable: - 2019: $1,722,270 - 2018: $1,654,730 - Accrued Expenses Payable: - 2019: $1,409,130 - 2018: $1,353,870 - Accrued Taxes Payable: - 2019: $1,252,560 - 2018: $1,203,440 - **Total Current Liabilities:**

Answered: 62.) Using Financial Statements for…

62.) Using Financial Statements for 2018-2019. The amount of shares of preferred stock for 2019 is 10,959.90. TRUE OR FALSE?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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