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Condensed financial data of Oriole Company follow. Condensed financial data of Oriole Company follow Oriole Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable
Condensed financial data of Oriole Company follow.
Condensed financial data of Oriole Company follow Oriole Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 95,344 103,604 132,750 2016 $ 57,112 44,840 121,363 30,680 128,620 286,150 33,512 162,840 336,300 (59,000) (61,360) $805,350 $607,405 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 120,360 19,470 129,800 259,600 276,120 $805,350 79,414 24,780 172,280 206,500 124,431 $607,405 Oriole Company Income Statement Data For the Year Ended December 31, 2017 Sales revenue $458,383 Less Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $159,843 14,644 54,870 32,190 5,581 8,850 275,978 Net income $182,405 Additional informationStep by Step Solution
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