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6 7 JERGAN CORPORATION Balance Sheets 9 10 11 Cash 12 Accounts receivable (net) 13 Other current assets 14 Investments 15 Plant and equipment
6 7 JERGAN CORPORATION Balance Sheets 9 10 11 Cash 12 Accounts receivable (net) 13 Other current assets 14 Investments 15 Plant and equipment (net) 16 17 18 Current liabilities 19 Long-term debt 20 Common stock, $10 par 21 Retained earnings 22 December 31 2020 2019 2018 30,000 20,000 18,000 50,000 45,000 48,000 90,000 95,000 64,000 55,000 70,000 45,000 500,000 370,000 358,000 F 725,000 600,000 533,000 85,000 80,000 70,000 145,000 85,000 50,000 320,000 310,000 300,000 175,000 125,000 113,000 725,000 600,000 533,000 23 24 25 26 27 JERGAN CORPORATION For the Years Ended December 31 Income Statements 28 29 30 Sales revenue 31 Less: Sales returns and allowances 32 Net sales 33 Cost of goods sold 34 Gross profit 35 Operating expenses (including income taxes) 36 Net income 2020 $740,000 40,000 2019 $600,000 30,000 700,000 0.000 425,000 350,000 275,000 220,000 180,000 150,000 $95,000 $70,000 37 38 Additional information: 139 1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 40 2018, 2019 and 2020, respectively. 41 2. All dividends are paid in cash. M
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