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Newman Corporation's comparative balance sheets are presented below. Newman Corporation Comparative Balance Sheet December 31 Assets Cash Accounts receivable Investments (long-term) Equipment Accumulated depreciation Total
Newman Corporation's comparative balance sheets are presented below. Newman Corporation Comparative Balance Sheet December 31 Assets Cash Accounts receivable Investments (long-term) Equipment Accumulated depreciation Total Assets 2020 S15,200 25,200 20,000 60,000 (14,000) $106.400 2019 $17,700 22,300 16,000 70,000 (10,000) $116,000 Liabilities & Stockholder Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Liabilities & Stockholder Equity S14,600 10,000 50,000 31.800 $106.400 $11,100 30,000 45,000 29.900 $116,000 Additional information: 1. Net income was $18,300. Dividends declared and paid were $16,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. Newman Corporation's comparative balance sheets are presented below. Newman Corporation Comparative Balance Sheet December 31 Assets Cash Accounts receivable Investments (long-term) Equipment Accumulated depreciation Total Assets 2020 S15,200 25,200 20,000 60,000 (14,000) $106.400 2019 $17,700 22,300 16,000 70,000 (10,000) $116,000 Liabilities & Stockholder Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Liabilities & Stockholder Equity S14,600 10,000 50,000 31.800 $106.400 $11,100 30,000 45,000 29.900 $116,000 Additional information: 1. Net income was $18,300. Dividends declared and paid were $16,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation
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