Condensed financial statement data for the Harris Company are shown below.

Supplementary Information: Equipment costing \(\$ 5.000\) and with \(\$ 4.000\) of accumulated depreciation was sold for \(\$ 1,000\).
a Prepare a T-account work sheet for the statement of changes in financial position for the year 1979. Use a working capital definition of funds.
b Prepare a statement of changes in financial position for the year 1979. Use a working capital definition of funds.

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Harris Company Comparative Balance Sheets (Problems 13, 14, and 15) ASSETS Cash.... Accounts Receivable Inventory Land... Buildings and Equipment (Cost) Less Accumulated Depreciation Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY January 1, December 31, 1979 $ 12,000 36,000 Y 63,000 1979 $ 14,000 40,000 64,000 11,000 11,000 300,000 313,000 (160,000) (167,000) $262.000 $275,000 Accounts Payable $ 45,000 4 48,000 Notes Payable (Current). 14,000 13,000 Mortgage Payable 40,000 40,000 Common Stock 100,000 104,000. Retained Earnings 63,000 70,000 Total Liabilities and Stockholders' Equity $262,000 $275,000