Statement of Financial Position Rand Company Tand Company Cash $ 25,000 $ 45,000 Accounts receivable (net) 55,000 5,000 Inventory 110,000 25.000 Property, plant, and equipment (net) 550,000 160,000 Other assets 140.000 $7,000 Total assets $850,000 $292,000 Current liabilities $120,000 $ 15,000 Long-term debt (12%) 190,000 55.000 Share capital 480,000 210,000 Contributed surplus 50.000 4,000 Retained earnings 38,000 7,000 Other comprehensive income 2.000 1.000 Total liabilities and shareholders' equity $880,000 $292.000 Statement of Earnings Sales revenue (on credit) Cost of sales Expenses (including interest and income tax) Net earnings (15) $800,000 (16) $280,000 (480,000) (150,000) (240,000) (95.000) $ 80,000 $35,000 Selected Data from the 2019 Statements Accounts receivable, net Long-term debt (12%) Inventory Other Data Share price at end of 2020 Income tax rate Dividends declared and paid in 2020 Number of common shares during 2020 $ 47,000 $ 11,000 190.000 55.000 95.000 38,000 $ 14.00 $ 11.00 30% 30% $ 20.000 24.000 $ 9,000 10,500