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Condensed financial data of Needles Corporation appear below: NEEDLES CORPORATION Comparative Statements of Financial Position December 31, 2013 Assets 2013 2012 Cash Accounts receivable
Condensed financial data of Needles Corporation appear below: NEEDLES CORPORATION Comparative Statements of Financial Position December 31, 2013 Assets 2013 2012 Cash Accounts receivable Merchandise inventory Prepaid expenses Long-term investments Property, plant, and equipment $ 74,700 90,000 $ 35,000 53,000 120,000 132,000 21,000 25,000 90,000 75,000 310,000 250,000 Accumulated depreciation Total (65.000) (60.000) $640,700 $510,000 Liabilities and Shareholders' Equity Accounts payable $ 93,000 $ 75,000 Accrued expenses payable 29,000 24,000 Bonds payable Common shares Retained earnings Total 135,000 160,000 240,000 170,000 143,700 81,000 $640,700 $510,000 NEEDLES CORPORATION Income Statement Year Ended December 31, 2013
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