Condensed financial data of Minnie Hooper Company are shown below.

Minnie Hooper Company Comparative Balance Sheets December 31

Assets 20142013

Cash $ 93,600 $ 33,400 Accounts receivable 63,200 37,000 Inventory 124,500102,650 Investments 79,500107,000

Plant assets 318,000 Accumulated depreciation (44,000)

Total $634,800

205,000 (40,000)

$445,050

$ 48,280 18,830 70,000 200,000 107,940

$445,050

$297,500

189,340 $108,160

Liabilities and Stockholders Equity

Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings

$ 56,600 15,100 140,000 250,000 173,100

Total $634,800

Minnie Hooper Company Income Statement For the Year Ended December 31, 2014

Sales revenue Less:

Cost of goods sold Operating expenses, excluding

depreciation expense Depreciation expense Loss on disposal of plant assets Income taxes Interest expense

Net income

Additional information:

$99,460

19,670 25,000 5,000 37,270 2,940

Cash from operations $94,700

1. New plant assets costing $149,000 were purchased for cash during the year.

2. Investments were sold at cost. 3. Plant assets costing $36,000 were sold for $10,000, resulting in a loss of $5,000. 4. A cash dividend of $43,000 was declared and paid during the year.