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Genatron Manufacturing Corporation Balance Sheet 2020 2019 ASSETS Cash $40,120 $51,657 Accts. receivable 261,285 200,758 Inventory 502,270 451,168 Total current assets 803,675 703,583 Fixed assets,
Genatron Manufacturing Corporation Balance Sheet | |||||
2020 | 2019 | ||||
ASSETS | |||||
Cash | $40,120 | $51,657 | |||
Accts. receivable | 261,285 | 200,758 | |||
Inventory | 502,270 | 451,168 | |||
Total current assets | 803,675 | 703,583 | |||
Fixed assets, net | 400,000 | 300,000 | |||
Total assets | $1,203,675 | $1,003,583 | |||
LIABILITIES AND EQUITY | |||||
Accts. payable | $172,044 | $134,276 | |||
Bank loan | 90,824 | 90,824 | |||
Accruals | 70,000 | 50,000 | |||
Total current liabilities | 332,868 | 275,100 | |||
Long-term debt, 12% | 395,228 | 293,912 | |||
Common stock, $10 par | 300,000 | 300,000 | |||
Capital surplus | 44,269 | 44,269 | |||
Retained earnings | 131,310 | 90,302 | |||
Total liabilities & equity | $1,203,675 | $1,003,583 |
Genatron Manufacturing Corporation Income Statement | |||||
2020 | 2019 | ||||
Net sales | $1,688,034 | $1,488,034 | |||
Cost of goods sold | 1,012,820 | 892,820 | |||
Gross profit | 675,214 | 595,214 | |||
Expenses: | |||||
General and administrative | 150,000 | 150,000 | |||
Marketing | 150,000 | 130,000 | |||
Depreciation | 51,155 | 41,936 | |||
Interest | 55,745 | 44,634 | |||
Earnings before taxes | 268,314 | 228,644 | |||
Income taxes | 74,659 | 60,998 | |||
Net income | $193,655 | $167,646 |
(a)
Calculate Genatron's dollar amount of net working capital in each year.
2020 | 2019 | |||
Net working capital | $ | $ |
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