The comparative financial statements of Marshal Inc. are as follows. The markat price of Manhal comman stock was s6 on December 31, 20Y2. Comparative Balance Sheet Marshall Inc. December 31, 20Y2 and 20Y1 Comparative Retained Earnings Statement 20Υ2 20Υ1 For the Years Ended December 31, 20Y2 and 20Y1 Assets 20v2 20V1 Rutained earngs, Janry Current assets Nat income 729,600 sa3,200 Cash $912,500 $815,990 Total S3,136, 750 Marketable securities 1,381,080 1,352,220 Dividends On profemed stock SI1,200 SIL.200 Accounts receivable (net) 781,100 737,300 On common stock 36, S00 36.500 Inventories 584,000 452,600 Total dividends $47,700 S47,700 Prepaid expenses 172,627 163,200 utained earings, December 3 $3,770,050 Total current assets $3,831,307 $3,521,310 Long-term investments 1,386,498 972,249 Marshall Inc. Comparative Income Statement Property, plant, and equipment (net) 4,550,000 4,095,000 For the Years Ended December 31, 20Y2 a and 20v1 Total assets $9,767,805 $8,588,559 20v2 20V1 Liabilities Sales $4,127,40 S3,087,130 Cost of goods sold 1,503,070 Current liabilities $1,126,855 $2,199,509 Gro prole $2.824.370 $2,6040 Long-term liabilities: Sellng epenes So56,190 $1,190,400 Mortgage note payable, 8% $1,570,000 so Adminstrative epens 14.540 600,130 Total operating expense $1,770,730 $1, 30 Bonds payable, 8% 1,930,000 1,930,000 Income from opratons $1,053.640 $714.780 Total long-term liabilities $3,500,000 $1,930,000 Other sevenue 55,40 45,620 Total liabilities $4,626,855 $4,129,509 S1,100,100 $760.400 Cther epense (teret) 280.000 154,400 Stockholders' Equity Income before income ta S20,100 S06,000 Preferred $0.70 stock, $40 par $640,000 $640,000 Income ta expense 99,500 72800 Common stock, $10 par 730,000 730,000 Net income $720,00 $533,200 Retained earnings 3,770,950 3,089,050 Total stockholders' equity $5,140,950 $4,459,050 Total liabilities and stockholders' equity $9,767,805 $8,588,559
The comparative financial statements of Marshal Inc. are as follows. The markat price of Manhal comman stock was s6 on December 31, 20Y2. Comparative Balance Sheet Marshall Inc. December 31, 20Y2 and 20Y1 Comparative Retained Earnings Statement 20Υ2 20Υ1 For the Years Ended December 31, 20Y2 and 20Y1 Assets 20v2 20V1 Rutained earngs, Janry Current assets Nat income 729,600 sa3,200 Cash $912,500 $815,990 Total S3,136, 750 Marketable securities 1,381,080 1,352,220 Dividends On profemed stock SI1,200 SIL.200 Accounts receivable (net) 781,100 737,300 On common stock 36, S00 36.500 Inventories 584,000 452,600 Total dividends $47,700 S47,700 Prepaid expenses 172,627 163,200 utained earings, December 3 $3,770,050 Total current assets $3,831,307 $3,521,310 Long-term investments 1,386,498 972,249 Marshall Inc. Comparative Income Statement Property, plant, and equipment (net) 4,550,000 4,095,000 For the Years Ended December 31, 20Y2 a and 20v1 Total assets $9,767,805 $8,588,559 20v2 20V1 Liabilities Sales $4,127,40 S3,087,130 Cost of goods sold 1,503,070 Current liabilities $1,126,855 $2,199,509 Gro prole $2.824.370 $2,6040 Long-term liabilities: Sellng epenes So56,190 $1,190,400 Mortgage note payable, 8% $1,570,000 so Adminstrative epens 14.540 600,130 Total operating expense $1,770,730 $1, 30 Bonds payable, 8% 1,930,000 1,930,000 Income from opratons $1,053.640 $714.780 Total long-term liabilities $3,500,000 $1,930,000 Other sevenue 55,40 45,620 Total liabilities $4,626,855 $4,129,509 S1,100,100 $760.400 Cther epense (teret) 280.000 154,400 Stockholders' Equity Income before income ta S20,100 S06,000 Preferred $0.70 stock, $40 par $640,000 $640,000 Income ta expense 99,500 72800 Common stock, $10 par 730,000 730,000 Net income $720,00 $533,200 Retained earnings 3,770,950 3,089,050 Total stockholders' equity $5,140,950 $4,459,050 Total liabilities and stockholders' equity $9,767,805 $8,588,559
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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