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Freiman Corporation's most recent balance sheet and income sistement appear be ow: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars)
Freiman Corporation's most recent balance sheet and income sistement appear be ow: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 $ 178 265 138 49 $ 138 285 148 49 62e 790 630 790 $ 1,420 $ 1,410 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short tern Total current liabilities Bands payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 149 99 59 $ 168 99 79 346 317 663 316 3a7 623 118 245 118 245 384 747 797 $ 1,420 $ 1,418 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $ 1,678 Cost of goods sold 960 Gross margin 710 Selling and administrative expenses 484 Net operating income 326 Interest expense 53 Net income before taxes 253 Income taxes (3) 76 Net income $ 177 The working capital at the end of Year 2 Mayfield Corporation has provided the following financial dots: $313.080 326,000 238.08 28, eae 985, age 755,68e $ 1.668.000 Balance Sheet Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilitics Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock. $4 par value Additional paid in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' couity $ 264,00 78, ese 63,20 397, se 136,880 523,000 396,280 98,080 633,000 1,127, ese $ 1.668.6e The company's acid-test (quickroto is closest to: Mobile Chairs 173 O 1.63 2.28 0 1.61
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