Question
The following information is available for the Fargo Corporation: Fargo Corporation Balance Sheets At December 31 Assets: Cash Accounts receivable Merchandise inventory Long-term securities
The following information is available for the Fargo Corporation: Fargo Corporation Balance Sheets At December 31 Assets: Cash Accounts receivable Merchandise inventory Long-term securities Equipment Accumulated depreciation Total assets Liabilities: Accounts payable Income taxes payable Bonds payable Total liabilities Equity: Common stock Paid-in capital in excess of par Retained earnings Total equity Total liabilities and equity 2021 2020 $ 24,640 $ 23,540 32,180 30,400 73,125 61,210 55,900 56,400 175,500 (33,550) $ 327,795 $ 65,000 10,725 145,500 (31,200) $ 285,850 40,380 10,200 48,750 66,000 $ 124,475 $ 116,580 97,000 117,000 13,000 73,320 9,000 63,270 $ 169,270 $ 203,320 $ 327,795 $ 285,850
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