plz explain these balnce sheet weather the company is in profit or is in loss. discuss it briefly

5 5 zippo lighter case STUD X + V 0 0 file:///C:/Users/tbila/OneDrive/Desktop/dod%20walker/zippo%20lighter%20case%20%20STUDENTS%202015%20(1).pdf 4 of 10 + D Fit to page 9 Page view A Read aloud Add notes H Zippo Manufacturing Company Consolidated Balance Sheet For Years Ended December 31, 2007 and 2006 Assets 2007 2006 $3,206 $4,964 Current Assets: Cash and cash equivalents Accounts and notes receivable (less allowances for doubtful accounts) Merchandise Inventory Prepaid Expenses Total Current assets 8,985 15,567 1,268 $30,026 5,843 8,879 1,006 $20,692 $7,689 $7,689 $45,987 42,645 $26,843 3,333 Property, plant and equipment: Land Buildings Less: Accumulated Depreciation Factory machinery and equipment Less, accumulated depreciation Property, plant and Equipment, net of depreciation Other assets including patents 4,111 $45,987 41,876 $26,793 24,065 24.672 2,171 2,728 $13,193 1.254 $14,528 1,487 Total assets $44,473 $36,707 O Type here to search gl - 10:25 AM 3/17/2020 33 5 5 zippo lighter case STUD X + V - x 0 0 file:///C:/Users/tbila/OneDrive/Desktop/dod%20walker/zippo%20lighter%20case%20%20STUDENTS%202015%20(1).pdf 5 of 10 + O Fit to page QD Page view A Read aloud L Add notes 6 E F & Volume 4, Number 9 Journal of Business Case Studies - September 2008 Liabilities & Stockholder's Equity Current Liabilities: Accounts Payable Notes payable ( 1 year) Mortgage payable Total long-term liabilities Total Liabilities $6,400 1.500 $7,900 $29,165 $8,400 1.800 $10,200 $23,732 Stockholder's Equity: Capital Stock Paid-in Capital Retained Earnings Total Stockholder's Equity $10,000 5.308 $15.308 $10,000 2.975 $12.975 Total liabilities and owner's equity $44.473 $36,707 ====== O Type here to search gl - l 10:26 AM 3/17/2020 33