Prepare a statement of financial position using the proposed new format as described in thechapter. Balance Sheet

Prepare a statement of financial position using the proposed new format as described in thechapter.

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Balance Sheet at December 31, 2011 and 2010 December 31 , December 31, 2010 2011 35,000 26,000 8,000 75,500 lash Trading Investments Accounts Receivable Allowance for doubtful accounts Inventory Prepaid insurance Plant & equipment Accumulated depreciation Investment in Found Inc. (equity method) 6,000 81,000 (12,000) 432,000 20,500 613,600 (100,000) 28,800 (10,500) 469,000 18,000 650,000 (105,000) 32,000 03,50 1163,000 Total assets S 168,000 139,000 16,000 14,000 11,000 65,000 140,000 Accounts Pavable-trade Dividend payable Accrued interest payable Accrued taxes payable Short-term on payable Bond payable Discount on bond payable Deferred taxes Common Stock ($2 par) Capital-in-excess-of par Retained Earnings Less: Treasury Stock 20,000 9,500 16,000 55,000 100,000 (15,000) 55,000 90,000 130,000 500,000 (20,000) (7,000) 38,000 110,000 148,000 524,000 (95,000) Total Liabilities & Eqity 1.108,500 S1.163,000