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10 points eBook References Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended
10 points eBook References Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $660,000. Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities. HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity T 2023 $ 21,000 78,000 103,000 $ 202,000 50,000 125,000 (65,000) $ 312,000 $ 18,000 64,800 20,000 $ 102,800 22,000 $ 124,800 $ 74,000 $ 81,500 51,700 (20,000) $ 113,200 $ 187,200 $ 312,000 2022 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 140,500 $ 281,000
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