PROBLEMS P12-1. Financial Statements Analysis. Financial statements for the RTS Company are given below: Cash Accounts...

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PROBLEMS P12-1. Financial Statements Analysis. Financial statements for the RTS Company are given below: Cash Accounts receivable Inventory P 412,500 RTS COMPANY BALANCE SHEETS AS OF DECEMBER 31 Assets 1990 1989 P 45,000 P 50,000 212,508 207,500 155,000 140,000 P 397,500 1,885,000 480,000) P1.817.500 1,662,500 (375,000) P1.685.000 1990 1989 P 55,000 P 47,500 112,500 110,000 Total current assets Plant and equipment Accumulated depreciation Total assets Equities Accounts payable Accrued expenses Total current liabilities Long-term debt Total liabilities Common stock, no par value Retained earnings Total equities P 167,500 250,000 P 417,500 1,000,000 400,000 P1.817.500 P 157,500 237,500 P 395,000 1,000,000 290,000 P1.685.000 PROBLEMS P12-1. Financial Statements Analysis. Financial statements for the RTS Company are given below: Cash Accounts receivable Inventory P 412,500 RTS COMPANY BALANCE SHEETS AS OF DECEMBER 31 Assets 1990 1989 P 45,000 P 50,000 212,508 207,500 155,000 140,000 P 397,500 1,885,000 480,000) P1.817.500 1,662,500 (375,000) P1.685.000 1990 1989 P 55,000 P 47,500 112,500 110,000 Total current assets Plant and equipment Accumulated depreciation Total assets Equities Accounts payable Accrued expenses Total current liabilities Long-term debt Total liabilities Common stock, no par value Retained earnings Total equities P 167,500 250,000 P 417,500 1,000,000 400,000 P1.817.500 P 157,500 237,500 P 395,000 1,000,000 290,000 P1.685.000