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Larry Inc. and Farry Inc. are two trading {merchandize} rms that started operations on Ian 1, 2000 and are identical in even; respect - the

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Larry Inc. and Farry Inc. are two trading {merchandize} rms that started operations on Ian 1, 2000 and are identical in even; respect - the only difference between the two firms is that Larry follows LIFO whereas Farry follows F|F0 to account for inventory. Both face a corporate income tax rate of 3096. Balance sheets of Farm are presented below. All figures are in dollars. 0&3 Dec 31. 2000 be: 31, 2001 Dec 31, 2002 Cash 10,000 30,000 20,000 Inventory 25,000 50,000 30,000 Other Assets 25,000 35,000 60,000 Total Assets 60,000 105,000 110,000 \"abilities and Eguig Liabilities 35,000 20,000 55,000 Capital Stock 15,000 15,000 15,000 Retained Earnings 10,000 30,000 40,000 Total Liabilities and Equity 60,000 105,000 110,000 Larry declared dividends as follows: 5,000 in calendar year 2000; 10,000 in calendar year 2001; 2,000 in calendar year 2002. Larry reported net income as follows: 8,000 in calendar year 2000; 16,000 in calendar year 2001; 24,000 in calendar year 2002. Complete the balance sheets in the table below for Larry. Assets Dec 31, 2000 Der. 31, 2001 Dec 31, 2002 Cash Inventory Other Assets Total Assets Liabilities and Eguig Liabilities Capital Stock Retained Earnings Total Liabilities and Equity LIFO Reserve 10K

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