Calgary Compressor and Pnew Brunswick Pneumatic are competing manufacturing firms. Their financial statements are printed here. CALGARY COMPRESSOR Statement of Financial Position 2016 2017 $ 16.339 25,778 43,287 $ 35, 404 $ 13,862 23,887 54,867 $92,616 Assets Current assets: Cash Net accounts receivable Inventory Total current assets Fixed assets Plant, property, and equipment Loss: Accumulated depreciation Net fixed asset Prepaid expenses other assets Total assets Liabilities and Equity Current liabilities: Accounts payable Note payable Accrued expenses other taxes payable Total current abilities Long-term debt Total liabilities Equity Connon stock 99,615 (31, 957) $ 67,658 1,791 13, 138 $167.991 101,543 134,331) 67.212 1.014 13.052 $174.794 54,893 11,617 7.227 3460 32197 22.036 56,494 10,483 7. 422 9.924 22.00 5 56.350 38,000 38.00 TULULUSSUUS BUT JA, Liabilities and Equity Current liabilities: Accounts payable Notes payable Accrued expenses Other taxes payable Total current liabilities Long-term debt Total liabilities Equity: Common stock Paid-in capital Retained earnings Total equity Total liabilities and equity $ 4,893 11,617 7,227 8,460 32,197 22,036 $ 54,233 $ 6,494 10,483 7,422 9,924 34,323 22,036 $ 56, 359 38,000 12,000 63,758 113,758 $167.991 38,000 12,000 68,435 118,435 $174,794 CALGARY COMPRESSOR Statement of Comprehensive Income 2017 Income: Sales $162, 749 Other income 1.002 Total income 5163, 751 Operating expenses: Cost of goods sold 103,570 2 295 Saved CALGARY COMPRESSOR Statement of Comprehensive Income 2017 Income: Sales $162, 749 Other income 1,002 Total income $163, 751 Operating expenses: Cost of goods sold 103,570 Selling and administrative expenses 28,495 Depreciation 2,274 Total expenses $134, 339 Pre-tax earnings 29,412 Taxes 14, 890 Net earnings S 14.522 Dividends S 9.845 Retained earnings $ 4, 677 Wele Save Atat Sub PNEW BRUNSWICK PNEUMATIC Statement of Financial Position 5 2016 2017 $ 5,794 $ 3,307 26, 177 22,133 46.463 44.661 $ 78,434 $70, 101 31.842 31.116 (19.297) (18.143) $ 12,545 S-12, 973 763 1.601 5.93.33 $15.147 1395 Assets Current assets: Cash Net accounts receivable Inventory Total current assets Fixed assets: Plant. property, and equipment Less: Accumulated depreciation Net fixed assets Prepaid expenses Other assets Total assets Liabilities and Equity Current liabilities Accounts payable Bank loans Accrued expenses Other taxes payable Total current liabilities Equity Conon stock Paid in capital Retained barnings Less Treasury stock Total equity Total liabilities and equity 50,00 3,722 4.254 55,00 645 3. 203 4,953 11010 19,672 20,570 20,570 5.624 5.624 4. 46.164 (1122) 1.121 37.671 371.23 $. Statement of Comprehensive Income 2017 Income: Sales $91, 374 Other income 1,067 Total income $92, 441 Operating expenses: Cost of goods sold 59,042 Selling and administrative expenses 18,068 Depreciation 1, 154 Total expenses $78, 264 Pre-tax earnings 14, 177 Taxes 6,838 Net earnings $ 7,339 Dividends $ 4,905 Retained earnings S2, 434 Saved Help Save & Sum a-1. How are the current assets financed for Calgary Compressor? [You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 7 Current liabilities Long-term diebt 2 Equity 7 Current assets 2 Revenue 2 Expenses a-2. How are the current assets financed for Prew Brunswick Pneumatic [You may select more than one answer Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 2 Current Long term mogu apter 18 - Problems Help Save & El Submit a-2. How are the current assets financed for Prew Brunswick Pneumatic (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 5 Current liabilities Long-term ett Equity 2 Current assets ? Revenue 2 Expenses b-1. Which firm has the larger investment in current assets? Calgary Compressor Pnew Brunswick Pneumatic Expenses Help Save 5 b-1. Which firm has the larger investment in current assets? Calgary Compressor Pnew Brunswick Pneumatic b-2. Not available in Connect. c-1. Which firm is more likely to incur carrying costs? Calgary Compressor OPnew Brunswick Pneumatic c-2. Which is more likely to incur shortage costs? Calgary Compressor Pnew Brunswick Pneumatic c-3. Not available in Connect