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Assuming that long-term investments totaled $2,226,000 throughout the year and that total assets were $4,229,000 at the beginning of the current fiscal year, determine the
Assuming that long-term investments totaled $2,226,000 throughout the year and that total assets were $4,229,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
Six Measures of Solvency or Profitability The following data were taken from the financial statements of Olvideo Enterprises Inc. for the current fiscal year Property, plant, and equipment (net) Liabilities: $1,694,400 Current liabilities Mortgage note payable, 8%, issued 2003, due 2019 Total liabilities $213,000 1,059,000 $1,272,000 Stockholders' equity: $954,000 Preferred $2 stock, $100 par (no change during year) Common stock, $10 par (no change during year) 954,000 Retained earnings: Balance, beginning of year Net income Preferred dividends Common dividends Balance, end of year $1,018,000 431,000 $1,449,000 $19,080 157,920 177,000 Total stockholders' equity Net sales Interest expense 1,272,000 $3,180,000 $10,572,500 $84,720Step by Step Solution
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