FM Saturday Morning and Eve x + Datei | C:/Users/Suliman/Downloads/FM Saturday Morning_and_Eve_2652_43440.pdf Zur Suche Text hier eingeben December 31, 2019 Balance Sheet Data March 31, 2020 Cash $ 25,300 $ 79,400 Marketable investments (at cost) 17,500 8,300 Allowance for decrease in value (1,000) 1900) Accounts receivable 24,320 49,320 Inventory 31,090 48,590 Total current assets $ 97,210 $184,710 Land 40,000 18,700 Building 250,000 250,000 Equipment 81,500 Accumulated depreciation (15,000) (16,250) Equity investment (30% ownership of Titan Company Other assets 61,220 67,100 15,100 Totals Accounts payable Income taxes payable Total current liabilities Bonds payable $448,530 $ 21,220 $ 21,220 50,000 15,100 $600,860 $38,417 13,529 $51,946 115,000 Discount on bonds payable (2,300 (2,150) Deferred taxes payable 510 846 Preferred stock 30,000 Common stock 80,000 110,000 Unrealized decrease in value of marketable investments (1,000 (900) Dividends declared (8,000) Retained earnings 83,100 147,118 Other liabilities 187,000 187,000 Totals $448,530 Sales Gain on sale of marketable investments Equity method earnings from Titan investment (30% ownership) Ordinary gain on condemnation of land Total revenues Cost of sales General and administrative expenses Depreciation Interest expense Income taxes Total expenses Net income $600,860 Income Statement Data for the 3 Months Ended March 31, 2020 $242,807 2,400 5,880 8,560 $259,647 $157,354 22,010 1,250 1,150 13,865 $195,629 $ 64,018 DEU 9:23 PM 2/6/2021