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Financial data for Windsor, Inc. for last year appear below: Windsor, Inc. Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 252,000 $
Financial data for Windsor, Inc. for last year appear below:
Windsor, Inc. Statements of Financial Position | ||||
Beginning Balance | Ending Balance | |||
Assets: | ||||
Cash | $ | 252,000 | $ | 197,853 |
Accounts receivable | 165,000 | 189,000 | ||
Inventory | 298,000 | 236,000 | ||
Plant and equipment (net) | 470,000 | 445,000 | ||
Investment in Pine Company | 287,000 | 311,000 | ||
Land (undeveloped) | 410,000 | 410,000 | ||
Total assets | $ | 1,882,000 | $ | 1,788,853 |
Liabilities and owners%u2019 equity: | ||||
Accounts payable | $ | 227,000 | $ | 149,000 |
Long-term debt | 860,000 | 860,000 | ||
Owners%u2019 equity | 795,000 | 779,853 | ||
Total liabilities and owners%u2019 equity | $ | 1,882,000 | $ | 1,788,853 |
Windsor, Inc. Income statement | ||||
Sales | $ | 2,270,000 | ||
Less operating expenses | 1,884,100 | |||
Net operating income | 385,900 | |||
Less interest and taxes: | ||||
Interest expense | $ | 104,700 | ||
Tax expense | 127,347 | 232,047 | ||
Net income | $ | 153,853 | ||
What is the company
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