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Question 11 of 12 -/1 E 2019 MARIGOLD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,780 Receivables 1,750 Inventory
Question 11 of 12 -/1 E 2019 MARIGOLD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 Cash $1,780 Receivables 1,750 Inventory 1,590 Plant assets 1,940 Accumulated depreciation (1,190) Long-term investments (held-to-maturity) 1,300 $7,170 $1,120 1,300 1,940 1,670 (1.140) 1,400 $6,290 $1.220 $880 190 250 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings 1,570 1,380 1,920 2,460 $7,170 1,730 1,860 $6,290 MARIGOLD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $7,040 Cost of goods sold 4,800 Gross margin 2,240 Selling and administrative expenses 910 Income from operations 1,330 Other revenues and gains Gain on sale of investments 80 Income before tax 1,410 Income tax expense 550 Net income 860 Cash dividends 260 Income retained in business $600 Question 11 of 12 > -/1 E MARIGOLD COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Direct Method) $
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