1. Lumber sells ilding supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: Ignore taxes.

   Statement of Financial Position October 31
   Assets
   Cash..................................................................................................................................................................................	$ 13,000
   Accounts receivable (net of allowance for uncollectible accounts)..........................................................................	82,000
   Inventory..........................................................................................................................................................................	153,000
   Property, plant and equipment (net of $598,000 accumulated depreciation)........................................................	1,138,000
   Total assets......................................................................................................................................................................	$1,386,000
   Liabilities and Stockholders Equity
   Accounts payable............................................................................................................................................................	$ 257,000
   Common stock................................................................................................................................................................	600,000
   Retained earnings...........................................................................................................................................................	529,000
   Total liabilities and stockholders equity......................................................................................................................	$1,386,000

   		$66,400
   		$43,900
   		$47,400
   		$61,500