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HEINTZ COMPANY Comparative Balance Sheet Accounts December 31, 2007 and 2006 December 31 2007 S 39,000 32,000 28,000 50,000 81,000 2006 S 22,000 47,000 25,000
HEINTZ COMPANY Comparative Balance Sheet Accounts December 31, 2007 and 2006 December 31 2007 S 39,000 32,000 28,000 50,000 81,000 2006 S 22,000 47,000 25,000 36,000 67,000 S230,000 S197,000 Asset Accounts Cash and Cash Equivalents Accounts Receivable Merchandise Inventory Land Machinery Totals Liabilities and stockholder's Accounts S 9,000 25,000 7,000 Accumulated Depreciation--Machinery Accounts Pavable Salaries Payable Notes Payable (due 2009) Common Stock, S0.50 par value Retained Earnings S 15,000 18,000 4.000 14,000 98,000 81,000 S230,000 88.000 68.000 S197,000 Totals HEINTZ COMPANY INCOME STATEMENT For the Year Ended December 31, 2007 Sales Cost of goods sold Gross margin on sales Operating expenses S310,000 178,000 S132,000 Salaries expense Rent expense Depreciation expenseX machinery S70,000 29,000 7,000 Total operating expenses Net operating income 106,000 S 26,000 Other income
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