Problem 13-4A (Part Level Submission) The following financial information is for Frizel The following financial information is for Frizell Company. FRIZELL COMPANY Balance Sheets December 31 2014 2013 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2017 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity 69,000 66,900 39,900 91,800 167,100 22,300 134,600 188,200 $877,000 $710,800 52,000 103,000 230,900 23,700 134,600 263,800 $170,100 $107,300 54,800 39,800 171,700 209,000 142,400128,200 $710,800 65,200 39,800 250,500 209,000 equity 877000 $710,800 $877,000 FRIZELL COMPANY Income Statements For the Years Ended December 31 2014 2013 Sales revenue Cost of goods sold Gross profit Operating expenses Net income $901,300 640,900 260,400 194,100 $793,500 575,200 218,300 160,700 57,600 Additional information