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ORIOLECOMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $9,950 $4,020 Accounts receivable 20,310 12,860 Short-term investments 22,070 30,290 Inventory
ORIOLECOMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2017 AND 2016 2017 2016 Cash $9,950 $4,020 Accounts receivable 20,310 12,860 Short-term investments 22,070 30,290 Inventory 41,650 34,690 Prepaid rent 2,970 12,020 Prepaid insurance 2,090 Supplies 1,000 75 Land 125,130 173,700 Buildings 351,280 351,280 Accumulated depreciation-buildings (105,980) (87,600 ) Equipment 528,280 402,590 Accumulated depreciation-equipment (130,240) (112,250 ) Patents 45,070 49,540 Total assets $913,580 $871,304 89 Accounts payable Income taxes payable Salaries and wages payable Short-term notes payable Long-term notes payable $22,150 5,040 4,950 9,940 60,540 $32,300 4,010 3,000 9,940 70,450 Bonds payable Premium on bonds payable Common stock Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity 400,000 22,340 239,990 24,980 123,650 $913,580 400,000 26,814 218,140 17,380 89,270 $871,304 INCOME STATEMENT AND DIVIDEND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold $1,169,120 750,310 418,810 $78,740 157,730 40,840 277,310 141,500 Gross margin Operating expenses Selling expenses Administrative expenses Depreciation/Amortization expense Total operating expenses Income from operations Other revenues/expenses Gain on sale of land Gain on sale of short-term investment Dividend revenue Interest expense Income before taxes Income tax expense Net income Dividends to common stockholders To retained earnings 8,060 3,980 2,430 (51,840 ) (37,370 ) 104,130 39,720 64,410 (30,030) $34,380 ORIOLE COMPANY Statement of Cash Flows (Direct Method) Cash receipts: Cash payments: (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Reconciliation Schedule Reconciliation of Net Income to Adjustments to reconcile net income to
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