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As of December 31 Year 4 Year 3 Assets Cash $ 20,000 $ 17,000 Marketable securities 20,000 22,000 Notes receivable 4,000 3,000 Accounts receivable

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As of December 31 Year 4 Year 3 Assets Cash $ 20,000 $ 17,000 Marketable securities 20,000 22,000 Notes receivable 4,000 3,000 Accounts receivable 50,000 56,000 Merchandise inventory 70,000 43,000 Prepaid expenses 4,000 4,000 Property, plant, and equipment (net) 340,000 310,000 Total assets $508,000 $455,000 Liabilities and Stockholders' Equity Accounts payable $ 40,000 $ 38,000 Salaries payable Taxes payable Bonds payable, 8% 2,000 3,000 4,000 2,000 100,000 100,000 Preferred stock, 6%, $100 par, cumulative 50,000 50,000 Common stock, $10 par 150,000 125,000 Retained earnings 162,000 137,000 Total liabilities and stockholders' equity $508,000 $455,000

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