Sales CROSBY CORPORATION Income Statement For the Year Ended December 31, 20x2 Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share $ 4,050,000 2,690,000 $ 1,360,000 652,000 266,000 $442,000 88,300 $ 353,700 110,000 $ 243,700 10,000 $233,700 150,000 $1.56 Statement of Retained Earnings For the Year Ended December 31, 20x2 Retained earnings, balance, January 1, 20x2 Add: Earnings available to common stockholders, 20x2 Deduct: Cash dividends declared and paid in 20x2 Retained earnings, balance, December 31, 20x2 $ 200,900 233,700 219,000 $ 215,600 Comparative Balance Sheets For 20x1 and 20x2 Year-End 20x1 Assets Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $107,000 502,000 684,000 62,200 $1,355,200 90,100 Year-End 20x2 $2,010,000 1,670,000 $2,720,000 1,936,000 340,000 $ 1,785,300 $ 126,000 511,000 707,000 36,100 $ 1,380,100 86,600 784,000 $2,250,700 Notes payable Accrued expenses Total current liabilities Long-term liabilities: Bonds payable, 20x2 Total liabilities Stockholders' equity: Preferred stock, $100 par value Common stock, $1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 304,000 508,000 71,400 5 883,400 111,000 $ 954,400 $ 90,000 150,000 350,000 200,900 $790,900 $ 1,785,300 $649,000 508,000 52,100 $ 1,209,100 236,000 $ 1,445,100 $90,000 150,000 350,000 215,600 805,600 $2,250,700