Problem 14-4A

Financial information for Ernie Bishop Company is presented below.

ERNIE BISHOP COMPANY Balance Sheets December 31
Assets		2013		2012
Cash		$ 114,800		$ 106,600
Short-term investments		85,280		65,600
Receivables (net)		160,720		131,200
Inventory		205,000		221,400
Prepaid expenses		47,560		37,720
Land		213,200		213,200
Building and equipment (net)		275,520		287,000
		$1,102,080		$1,062,720
Liabilities and Stockholders