Chapter 13 Homework (Algo) G Chapter 13 Hom Saved Help Sa 5 The financial statements for Royale and Cavallier companies are summarized here: Royale Cavalier Company Company 20 points Balance Sheet 15,000 80,000 45,000 90,000 Accounts Receivable, Net Inventory Equipment, Net Other Assets Skipped 6,000 5,000 30,000 140,000 130,000 36,000 $810,000 $267,000 eBook Ask Print Total Assete Current Liabilities Note Payable (long-term) Comon Stock [par $20) Additional Paid-In Capital Retained Earnings 100,00017,000 35,000 470,000 200,000 9, 000 170, 000 40,000 Total Liabilities and Stookholders Equity Incone Statement sales Revenue Cont of Goods Sold Other Expenses Net Inoome Other Data Per share price at end of year 810,000 $267,000 770.000 $250,000 470,000 140,000 _amooo.seoo 70,00 $ 25, S 20.00 16.00 Selected Data fron Previous Year 37,000 4,000 170,000 30,000140,000 Accounts Receivable, Net Note Payable (long-term Equipment, Net Inventory Total Stockholders Equity 540,000215, 000 These two companies are in the same business and state but different cities. Each company has been in operation for about 10 years Both compan ies received an unqualified audit ooinion on the financial statements Rovale Companv wants to borrow $65.000 cash