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Following are financial statements for Moore Company and Kirby Company for 2018 Moore Kirby Sales Cost of goods sold Operating and interest expenses $ (800,000)
Following are financial statements for Moore Company and Kirby Company for 2018 Moore Kirby Sales Cost of goods sold Operating and interest expenses $ (800,000) (600,000) 500,000 100,000 400,000 160,000 Net income (200,000) $ (40,000) Retained earnings, 1/1/18 Net income Dividends declared $ (990,000) $(550,000) (40,000) (590,000) 160,000 (200,000) 130,000 (1,060,000) $ 217,000 Retained earnings, 12/31/18 Cash and receivables Inventory Investment in Kirby Equipment (net) Buildings Accumulated depreciation-buildings Other assets $ 180,000 224,000 657,000 600,000 420,000 650,000 (200,000) 100,000 1,000,000 (100,000) 200,000 $1,310,000 Total assets Liabilities Common stock Retained earnings, 12/31/18 $2,798,000 $ (1,138,000) $(570,000) (600,000) (150,000) (1,060,000(590,000) $ (2,798,000) Total liabilities and equity (1,310,000)
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