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Solvency Analysis The following information is available from the balance sheets at the ends of the two most recent years and the income statement for
Solvency Analysis The following information is available from the balance sheets at the ends of the two most recent years and the income statement for the most recent year of Company: December 31 2017 2016 Accounts payable $ 65,000 $50,000 Accrued liabilities 25,000 35,000 Taxes payable 60,000 45,000 Short-term notes payable 0 75,000 Bonds payable due within next year 200,000 200,000 Total current liabilities $ 350,000 $ 405,000 Bonds payable $ 600,000 $800,000 Common stock, $10 par $1,000,000 $1,000,000 Retained earings 650,000 500,000 Total stockholders' equity $1,650,000 $1,500,000 Total liabilities and stockholders' equity $2,600,000 $2,705,000
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