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Problem 5-5 Presented below is the balance sheet of Sargent Corporation for the current year, 2014. SARGENT CORPORATION BALANCE SHEET DECEMBER 31, 2014 Current assets

Problem 5-5

Presented below is the balance sheet of Sargent Corporation for the current year, 2014.

SARGENT CORPORATION BALANCE SHEET DECEMBER 31, 2014

Current assets $ 485,000 Current liabilities $ 380,000
Investments 640,000 Long-term liabilities 1,000,000
Property, plant, and equipment 1,720,000 Stockholders

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