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COMPARATIVE BALANCE SHEETS Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets 2020 $807,900 1,130,100 1,850,400
COMPARATIVE BALANCE SHEETS Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets 2020 $807,900 1,130,100 1,850,400 3,324,100 (1,163,100) 308,700 250,800 $6,508,900 2019 $696,100 1,166,300 1,707,300 2,995,100 (1,032,700 ) 277,600 Increase (Decrease) $111,800 (36,200) 143,100 329,000 (130,400) 31,100 250,800 $699,200 $5,809,700 $949,200 50,300 99,100 $70,200 (20,200) (19,300 ) 389,500 Accounts payable Income taxes payable Dividends payable Lease liability Common stock, $1 par Paid-in capital in excess of par--common stock Retained earnings Total liabilities and stockholders' equity $1,019,400 30,100 79,800 389,500 500,000 1,499,000 2,991,100 $6,508,900 500,000 1,499,000 2,712,100 $5,809,700 279,000 $699,200 Additional information 1. On December 31, 2019, Shamrock acquired 25% of Myers Cocommon stock for $277,600. On that date, the carrying value of Myers' assets and abilities, which approximated their fair values, was $1,110,400. Myers reported income of $124.400 for the year ended December 31, 2020. No dividend was paid on Myers' common stock during the year. 2. During 2020, Shamrock loaned $289,200 TLC Co, an unrelated company. TLC made the first semiannual principal repayment of $38,400, plus interest at 10%, on December 31, 2020. 4. On December 31, 2020, Shamrock entered into a capital lease for an office building. The present value of the annual rental payments is $389,500, which guals the fair value of the building Shamrock made the first rental payment of 60,100 when due on January 2, 2021 6. Sharock declared and paid the following cash dividends for 2020 and 2019 Declared Paid Amount 2020 December 15, 2020 February 26, 2021 $79.000 2019 December 15, 2019 February 28, 2020 $99.100 SHAMROCK CORP. Statement of Cash Flows Adjustments to reconcile net income to
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