Problem 12-7A Presented below are the financial statements of Kurtzel Company KURTZEL COMPANY Comparative Balance Sheets December 31 2014 2013 ssets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total $59,780 34,160 47,824 102,480 34,160 23,912 34,160 133,224 (40,992) (54,656) $189,588 $184,464 iabilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $32,452 11,956 29,036 30,744 85,400 $189,588 s 25,620 13,664 56,364 23,912 64,904 $184,464 KURTZEL COMPANY