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Slagger Corporation has a year end of December 31 and is incorporated in Canada. The Statement of Financial Position of Slagger Corporation as at
Slagger Corporation has a year end of December 31 and is incorporated in Canada. The Statement of Financial Position of Slagger Corporation as at December 31, 2021 is presented below. Assets Cash Short-term investments Accounts receivable Merchandise inventory Prepaid expenses Plant and equipment Total assets Liabilities and Shareholders' Equity $48,500 120,400 143,400 149.200 43,600 1.272.100 1.777.200 Accounts payable Accrued wages payable Income taxes payable Notes payable (due October 30, 2026) Total Liabilities: Common shares Retained earnings 140,700 55.200 55,800 495.000 746.700 340,000 690.500 1.030.500 Total Shareholders' Equity Total liabilities and Shareholders' Equity Additional information: 1.777.200 1. 2021 Revenue was $1,986,000 and Cost of Goods Sold was $1.392.000. Interest Expense for 2021 was $29,700. Income before Income Tax for 2021 was $152,000, and Income Tax Rate for 2021 was 35%. 2. As at December 31. 2020. Boomer's Liabilities totaled $620,000, Common Shares were $310,000 and Retained Earnings were $591.700. 3. Slagger Corporation's price per share of common stock (per tmxmoney.com) at December 31, 2021 was $7.63 and the number of common shares outstanding at December 31, 2021 was 77,200. which is up by 10,000 shares since a year ago. hors not given
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