Question
PLEASE SHOW WORK Q: Financial data for Bridger, Inc., for last year are as follows: Bridger, Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash
Financial data for Bridger, Inc., for last year are as follows: |
Bridger, Inc. Balance Sheet | ||||
| Beginning Balance | Ending Balance | ||
Assets |
|
|
|
|
Cash | $ | 125,000 | $ | 130,000 |
Accounts receivable |
| 340,000 |
| 480,000 |
Inventory |
| 570,000 |
| 490,000 |
Plant and equipment, net |
| 845,000 |
| 820,000 |
Investment in Brier Company |
| 400,000 |
| 430,000 |
Land (undeveloped) |
| 250,000 |
| 250,000 |
| | | | |
Total assets | $ | 2,530,000 | $ | 2,600,000 |
| | | | |
Liabilities and Stockholders' Equity |
|
|
|
|
Accounts payable | $ | 380,000 | $ | 340,000 |
Long-term debt |
| 1,000,000 |
| 1,000,000 |
Stockholders' equity |
| 1,150,000 |
| 1,260,000 |
| | | | |
Total liabilities and stockholders' equity | $ | 2,530,000 | $ | 2,600,000 |
| | | | |
|
Bridger, Inc. Income Statement | |||
Sales |
| $ | 4,180,000 |
Operating expenses |
|
| 3,553,000 |
|
| | |
Net operating income |
|
| 627,000 |
Interest and taxes: |
|
|
|
Interest expense | $ 120,000 |
|
|
Tax expense | 200,000 |
| 320,000 |
| | | |
Net income |
| $ | 307,000 |
|
| | |
|
The company paid dividends of $197,000 last year. The |
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