F.J. Haydn Company Balance Sheets Years ending December 31 (thousands of dollars) Cash Accounts receivable Inventories Total current assets Net fixed assets Total Assets Notes payables Accounts payables Accrued expenses Total current liabilities Long-term debt Common stock ($2 par value) Additional paid-in capital Retained earnings Total liabilities & equity 2003 5,500 4,000 6,200 9,000 15,700 13,900 84,300 87,000 100,000 100,900 2004 2,900 2,000 1,500 1,900 8,600 6,600 700 900 10,800 9,400 37,500 42,000 12,000 8,000 14,520 9,500 25,180 32,000 100,000 100,900 F.J. Haydn Company Income Statement Year Ending December 31 (thousands of dollars) Net sales Cost of goods sold Gross profit General & administrative expenses 75,000 Depreciation expense 15,000 Operating profit 70,000 Interest expense Earnings before taxes Taxes 2004 350,000 190,000 160,000 Net income 18,500 51,500 17,500 34,000
F.J. Haydn Company Balance Sheets Years ending December 31 (thousands of dollars) Cash Accounts receivable Inventories Total current assets Net fixed assets Total Assets Notes payables Accounts payables Accrued expenses Total current liabilities Long-term debt Common stock ($2 par value) Additional paid-in capital Retained earnings Total liabilities & equity 2003 5,500 4,000 6,200 9,000 15,700 13,900 84,300 87,000 100,000 100,900 2004 2,900 2,000 1,500 1,900 8,600 6,600 700 900 10,800 9,400 37,500 42,000 12,000 8,000 14,520 9,500 25,180 32,000 100,000 100,900 F.J. Haydn Company Income Statement Year Ending December 31 (thousands of dollars) Net sales Cost of goods sold Gross profit General & administrative expenses 75,000 Depreciation expense 15,000 Operating profit 70,000 Interest expense Earnings before taxes Taxes 2004 350,000 190,000 160,000 Net income 18,500 51,500 17,500 34,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 103.4C
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