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Condensed balance sheet and income statement data for Bramble Corporation are presented here. BRAMBLE CORPORATION Balance Sheets December 31 2019 2018 2017 Cash $
Condensed balance sheet and income statement data for Bramble Corporation are presented here. BRAMBLE CORPORATION Balance Sheets December 31 2019 2018 2017 Cash $ 31,000 $ 21,000 $ 19,000 Accounts receivable (net) 51,000 46,000 49,000 Other current assets 95,000 100,000 69,000 Investments 60,000 75,000 50,000 Plant and equipment (net) 500,000 370,000 358,000 $737,000 $612,000 $545,000 Current liabilities $ 86,000 $ 81,000 $ 71,000 Long-term debt 150,000 90,000 55,000 Common stock, $10 par 325,000 315,000 305,000 Retained earnings 176,000 126,000 114,000 $737,000 $612,000 $545,000 BRAMBLE CORPORATION Income Statements For the Years Ended December 31 2019 2018 Sales revenue $745,000 $605,000 Less: Sales returns and allowances 41,000 31,000 Net sales 704,000 574,000 Cost of goods sold 430,000 355,000 Gross profit 274,000 219,000 Operating expenses (including income taxes) 181,000 151,000 Net income $ 93,000 $ 68,000 Additional information: 1. The market price of Bramble's common stock was $7.00, $7.50, and $8.50 for 2017, 2018, and 2019, respectively. 2. You must compute dividends paid. All dividends were paid in cash.
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