Exercise 23-11 Condensed financial data of Fairchild Company for 2015 and 2014 are presented below. FAIRCHILD COMPANY COMPARATIVE STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2015 AND 2014 2014 2015 Debt investments (held-for-collection) 1,300 1,470 Plant assets 1,700 1,900 Accumulated depreciation (1,200) (1,170) 1,900 Inventory 1,600 Accounts receivable 1,750 1,300 Cash 1,800 1,100 7,150 6,300 Share capital-ordinary Retained earnings Bonds payable Accounts payable 1,900 1,700 2,450 1,900 1,400 1,650 1,200 800 Accrued liabilities 200 250 7,150 6,300 FAIRCHILD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Sales revenue 6,900 Cost of goods sold 4,700 Exercise 23-11 Condensed financial data of Fairchild Company for 2015 and 2014 are presented below. FAIRCHILD COMPANY COMPARATIVE STATEMENTS OF FINANCIAL POSITION AS OF DECEMBER 31, 2015 AND 2014 2014 2015 Debt investments (held-for-collection) 1,300 1,470 Plant assets 1,700 1,900 Accumulated depreciation (1,200) (1,170) 1,900 Inventory 1,600 Accounts receivable 1,750 1,300 Cash 1,800 1,100 7,150 6,300 Share capital-ordinary Retained earnings Bonds payable Accounts payable 1,900 1,700 2,450 1,900 1,400 1,650 1,200 800 Accrued liabilities 200 250 7,150 6,300 FAIRCHILD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Sales revenue 6,900 Cost of goods sold 4,700