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credit, balance sheet amounts at December 31, 2014, were inventory, $49,900, total assets, $179,400, common stock, $82,000, and retained earnings, $45,738.) BOT CORPORATION Income Statement

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credit, balance sheet amounts at December 31, 2014, were inventory, $49,900, total assets, $179,400, common stock, $82,000, and retained earnings, $45,738.) BOT CORPORATION Income Statement For Year Ended December 31, 2015 Sales Cost of goods sold $449,600 297,950 Gross profit Operating expenses Interest expense 151,650 98,700 4,200 Income before taxes Income taxes 48,750 19,638 Net income $ 29,112 CABOT CORPORATION Balance Sheet December 31, 2015 Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade) Merchandise inventory Prepaid expenses Plant assets, net S 16,500 4,200 4 100 S 10,000 Accounts payable 9,600 Accrued wages payable 31,200Income taxes payable 5000ong-term note payable, secured 2,800 Common stock 66,400 82.000 74,850 38,150 by mortgage on plant assets 151.300 Retained earnings s 248,050Total liabilities and equity $ 248,050 Total assets

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