mpaidtiv Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment 15 240 175 $ 9 340 125 10 484 610 93 436 470 85 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 385 19 $1,017 $840 517 16 $ 310 230 72 3 4 336 180 516 250 7 4 324 60 40 410 290 700 210 107 317 $1,017 $840 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $800 500 300 213 87 Gain on sale of investments Loss on sale of equipment (4) $ 7 Income before taxes Income taxes Net income 90 27 $ 63