Balance Sheet 2019 2018 Income Statement 2019 2018 Assets Sales $ 51,000,000 $ 47,000,000 5,100,000 $ 102,000 Cash $ 4,900,000 Operating Expenses: Marketable Securities 98,000 Cost of Goods Sold 5,100,000 4,700,000 Accounts Receivable 1,632,000 1,568,000 Depreciation 2,550,000 2,350,000 2,856,000 9,690,000 $ Inventories 2,744,000 9,310,000 3,136,000 Selling & Admn. Expenses Total Operating Expenses Operating Income 6,120,000 5,640,000 $ 13,770,000 $ 12,690,000 37,230,000 Total Current Assets Property, Plant, & Equipment 3,264,000 34,310,000 Other Fixed Assets Other Income 2,703,000 5,967,000 $ $ 15,657,000 $ 15,043,000 2,597,000 5,733,000 102,000 94,000 Total Fixed Assets Total Income $ 37,332,000 $ 34,404,000 Total Assets Interest Expense 1,530,000 1,410,000 Liabilities & Equity Earnings Before Tax Provision for Income Tax 35,802,000 32,994,000 Accounts Payable Notes Payable $ 1,878,840 $ 1,805,160 7,520,000 8,160,000 $ 27,642,000 $ 25,474,000 1,722,270 1,654,730 Net Income Accrued Expenses Payable Accrued Taxes Payable 1,409,130 1,353,870 1,203,440 6,017,200 752,150 6,769,350 1,252,560 Total Current Liabilities 6,262,800 $ Long-Term Debt $ 782,850 $ Total Liabilities $ 7,045,650 $ Stockholder's Equity: Preferred Stock ($100 par, 6%) Common Stock ($5 par value) Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity $ 1,095,990 $ 1,053,010 2,035,410 1,955,590 4,227,390 4,061,610 1,252,560 8,611,350 $ $ 15,657,000 $ 15,043,000 1,203,440 8,273,650 Total Liabilities & Equity
Balance Sheet 2019 2018 Income Statement 2019 2018 Assets Sales $ 51,000,000 $ 47,000,000 5,100,000 $ 102,000 Cash $ 4,900,000 Operating Expenses: Marketable Securities 98,000 Cost of Goods Sold 5,100,000 4,700,000 Accounts Receivable 1,632,000 1,568,000 Depreciation 2,550,000 2,350,000 2,856,000 9,690,000 $ Inventories 2,744,000 9,310,000 3,136,000 Selling & Admn. Expenses Total Operating Expenses Operating Income 6,120,000 5,640,000 $ 13,770,000 $ 12,690,000 37,230,000 Total Current Assets Property, Plant, & Equipment 3,264,000 34,310,000 Other Fixed Assets Other Income 2,703,000 5,967,000 $ $ 15,657,000 $ 15,043,000 2,597,000 5,733,000 102,000 94,000 Total Fixed Assets Total Income $ 37,332,000 $ 34,404,000 Total Assets Interest Expense 1,530,000 1,410,000 Liabilities & Equity Earnings Before Tax Provision for Income Tax 35,802,000 32,994,000 Accounts Payable Notes Payable $ 1,878,840 $ 1,805,160 7,520,000 8,160,000 $ 27,642,000 $ 25,474,000 1,722,270 1,654,730 Net Income Accrued Expenses Payable Accrued Taxes Payable 1,409,130 1,353,870 1,203,440 6,017,200 752,150 6,769,350 1,252,560 Total Current Liabilities 6,262,800 $ Long-Term Debt $ 782,850 $ Total Liabilities $ 7,045,650 $ Stockholder's Equity: Preferred Stock ($100 par, 6%) Common Stock ($5 par value) Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity $ 1,095,990 $ 1,053,010 2,035,410 1,955,590 4,227,390 4,061,610 1,252,560 8,611,350 $ $ 15,657,000 $ 15,043,000 1,203,440 8,273,650 Total Liabilities & Equity
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Current Liabilities And Payroll
Section: Chapter Questions
Problem 10.23EX
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Question 68
Using Financial Statements for 2018-2019. Net book value per share of common stock for 2019 is $17.46.
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