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Financial data for Windso Inc. for last year appear below: Windsor, Inc Statements of Financial Position Beginning Ending Balance Balance Assets 335,000 471,760 Cash Accounts
Financial data for Windso Inc. for last year appear below: Windsor, Inc Statements of Financial Position Beginning Ending Balance Balance Assets 335,000 471,760 Cash Accounts receivable 210,000 176,000 296.000 264,000 508,000 460,000 229,000 295,000 Inventory Plant and equipment (net) Investment in Pine Company 182,000 182,000 Land (undeveloped) $1,760,000 $1,848,760 Total assets Liabilities and owners' equity 190,000 235,000 Accounts payable Long-term debt 833,000 833,000 737,000 780,760 Owners' equity $1,760,000 $1,848,760 Total liabilities and owners' equity Windsor, Inc Income statement 2,050,000 Sales 1,517,000 Less operating expenses 533,000 Net operating income Less interest and taxes 96,700 Interest expense Tax expense 202,540 299,240 233,760 Net income
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