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Exercise 12-11 - Unit #6 - PLEASE ANSWER A, B and C. Thanks! Matthias Medical manufactures hospital beds and other institutional furniture. The companys comparative
Exercise 12-11 - Unit #6 - PLEASE ANSWER A, B and C. Thanks!
Matthias Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2012 and 2013 follow.
A -
B -
C -
Matthias Medical Comparative Balance Sheet As of December 31 2013 2012 Assets Current assets Cash $332,000 $417,400 Accounts receivable, net 776,500 1,066,200 681,100 Inventory 721,000 Other current assets 342,000 247,100 Total current assets 2,461,200 2,122,100 10,396,005 Property, plant, & equipment, net 8,477,095 12,857,205 $10,599,195 Total assets Liabilities and Stockholders' Equity Current liabilities $3,192,000 $2,846,000 3,702,600 3,892,650 Long-term debt Total liabilities 6,738,650 6,894,600 54,600 Preferred stock, $5 par value 54,600 103,850 Common stock, $0.25 par value 135,000 Retained earnings 5,773,005 3,702,095 Total stockholders' equity 5,962,605 3,860,545 Total liabilities and stockholders' eguity $12,857,205 $10,599,195
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