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Consider the following statement of comprehensive income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales Costs Taxable income Taxes (34%) Net income
Consider the following statement of comprehensive income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales Costs Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Assets Accounts receivable Inventory Total Total assets Fixed assets Net plant and equipment $2,500 7,862 $ 2,950 4,100 6,400 $13,450 $47,000 31,300 DARTMOOR CORPORATION Statement of Financial Position $41,300 $15,700 5,338 $10,362 $54,750 Liabilities and Owners Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity ww $ 2,400 5,400 $ 7,800 $28,000 $15,000 3,950 $18,950 $54,750
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