Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet ot December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation $ 24 $ 13 293 231 151 195 9 5 477 444 507 428 (82) (72) Net property, plant, and equipment Long-term investments 425 356 29 35 Total assets $931 5835 Liabilities and Stockholders' Equity Accounts payable $301 5 226 Accrued liabilities 71 78 Income taxes payable 74 64 Total current liabilities 446 368 Bonds payable) 196 172 Total liabilities 642 540 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 164 200 125 95 289 295 $931 $ 835 Weaver Company Income Statement For This Year Ended December 311 Sales $ 754 Cost of goods sold 449 Gross margin 305 Selling and administrative expenses 221 Net operating income 64 Nonoperating items: Gain on sale of investments $6 Loss on sale of equipment (1) Incone before taxes Income taxes 89 23 Net income $ 66 During this year, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $36 of its own stock. This year Weaver did not retire any bonds. Prev 1 2 of 3 Ne