Question
[The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31
[The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Total current liabilities This Year Last Year $ 21 $ 11 294 229 152 194 8 6 475 440 511 431 (81) (72) 430 359 25 31 $ 930 $ 830 $ 302 $ 224 72 78 73 63 447 365 200 171 647 536 162 200 121 94 283 294 $ 930 $ 830 Accounts payable Accrued liabilities Income taxes payable Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Weaver Company Income Statement For This Year Ended December 31 Sales $ 751 Cost of goods sold 446 Gross margin 305 Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments 221 84 $ 6
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