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Condensed financial data of Bonita Company for 2017 and 2016 are presented below BONITA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
Condensed financial data of Bonita Company for 2017 and 2016 are presented below BONITA COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 $1,140 1,290 1,860 1,710 2017 Cash Recervables Inventory Plant assets $1,820 1,780 1,590 1,870 (1220) (1150) 1,270 1420 $7,1106270 Long-term investments (held-to-maturity) Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,170 210 1390 1,930 2410 $880 240 1,580 1,680 1,890 $7,110$6270 BONITA COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Gross margin Selling and administrative expenses Income from operations Other revenues and gains $6,930 4,750 2,180 940 1,240 Gain on sale of investments Income before tax Income tax expense Net income Cash dividends Income retained in business 1,320 540 780 260 $520 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017
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