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the current solutions on chegg are not the correct ones Following are the individual financial statements for Gibson and Davis for the year ending December

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the current solutions on chegg are not the correct ones

Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2015: Gibson Davis (739,000) (442,500) Sales 189,000 320,000 Cost of goods sold Operating expenses 253,000 69,500 (18,000) Dividend income (184,000) S (184,000) Net income (737,000) (401,000) (184,000) (184,000) Net income Dividends declared 70,000 30,000 1,000) (555,000) Retained earnings, 12/31/15 256,600 146,000 Cash and receivables 526,000 217,000 nventory Investment in Davis 548,400 Buildings (net) 554,000 627,000 Equipment (net) 405,000 453,000 2,290,000 s 1,443,000 Total assets (809,000) S (548,000) Liabilities Common stock (630,000) (340,000) (851,000) Retained earnings, 12/31/15 (555,000) $(2,290,000) $(1,443,000) Total liabilities and stockholders' equity

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