4 5 points Mary Walker, president of Rusco Company, considers $41,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $36,000 in cash was available at the end of this year. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp decline in cash is puzzling to Ms. Walker Rusco Company Comparative Balance Sheet at. July 31 Assets eflock Current asseter Cash Print Accounts Receivable Inventory Prepaid expenses Total current assets Long-term investments Plant and equipment Less accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds Payable Total liabilities Stockholders' equitys Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity This Year Lost Tear $ 36,000 249,400 268,900 $58,200 237,300 208,600 21,700 40,200 576,000 544,300 153,000 225,000 902,000 771,000 220,500 196,300 681,500 574,700 $1,410,500 $1,344,000 $253,100 179,200 10,100. 19,200 58,000 49,500 322,000 247,900 263,000 142,000 585,000 389,900 762,500 705,000 63,000 249,100 825,500 954,100 5 1,410,500 1,344,000 Rusco Company Income Statement For This Year Ended July 31 Sales: $1,220,000 Cost of goods sold 762,500 Gross margin 457,500 Selling and administrative expenses Net operating incone Nonoperating itonat 326,350 131,150 Cain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net incone $30,500 10,200 20,300 151,450 45,338 5106,120 The following additional information is available for this year Prey 5 of 5 Noxt