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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 $
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 |
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