=+Dec. 31, 2010 Dec. 31, 2009 Assets Current assets: Cash . . . . . . .
Question:
=+Dec. 31, 2010 Dec. 31, 2009 Assets Current assets:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 240,000 $ 162,400 Temporary investments . . . . . . . . . . . . . . 364,000 328,800 Accounts receivable (net) . . . . . . . . . . . . . 260,000 211,200 Inventories . . . . . . . . . . . . . . . . . . . . . . . . 208,000 66,400 Prepaid expenses . . . . . . . . . . . . . . . . . . . 44,000 23,200 __________ ___________ Total current assets . . . . . . . . . . . . . . . $1,116,000 $ 792,000 Long-term investments . . . . . . . . . . . . . . . . 204,800 256,000 Property, plant, and equipment (net) . . . . . . . 1,539,200 976,000 __________ ___________ Total assets . . . . . . . . . . . . . . . . . . . . . . . . . $2,860,000 $2,024,000 __________ ___________ __________ ___________ Liabilities Current liabilities . . . . . . . . . . . . . . . . . . . . . . $ 360,000 $ 320,000 __________ ___________ Long-term liabilities:
Mortgage note payable, 8%, due 2015 . . . $ 384,000 —
Bonds payable, 10%, due 2019 . . . . . . . . . 800,000 $ 800,000 __________ ___________ Total long-term liabilities . . . . . . . . . . . . $1,184,000 $ 800,000 __________ ___________ Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . $1,544,000 $1,120,000 __________ ___________ Stockholders’ Equity Preferred $2.00 stock, $50 par . . . . . . . . . . . $ 100,000 $ 100,000 Common stock, $5 par . . . . . . . . . . . . . . . . . 200,000 200,000 Retained earnings . . . . . . . . . . . . . . . . . . . . 1,016,000 604,000 __________ ___________ Total stockholders’ equity . . . . . . . . . . . . . $1,316,000 $ 904,000 __________ ___________ Total liabilities and stockholders’ equity . . . . . $2,860,000 $2,024,000 __________ ___________ __________ ___________
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