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Can you please help me answer the following question?? Thank you so much!! Condensed financial data of Pat Metheny Company for 2014 and 2013 are
Can you please help me answer the following question??
Thank you so much!!
Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below. PAT METHENY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2014 $1,806 1,759 1,585 1,902 2013 $1,097 1,297 1,914 1,693 (1,202) (1,179) 1,309 1,470 $7.159 $6.292 $6,292 0 Accounts payable Accrued liabilities Bonds payable Capital stock Retained earnings $1,204 205 1,412 1,896 2,442 $7,159 $795 239 1,633 1,710 1,915 $6,292 PAT METHENY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains $6,865 4,702 2,163 927 1,236 Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 93 1,329 534 $795 268 $527Step by Step Solution
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