There Ricoh the theme HOLD TEMELOR - X Comparative balance sheet Andres Corp. Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Cash Investment in money market fund Accounts receivable Inventory Prepaid expenses Equipment Less Accumulated amortization Investment Goodwill 14,500 5 18,500 0 58,000 205,000 183.000 290.000 614,000 48,000 27,000 1,780,000 1.875,000 (160.000) (138,000) 185,000 90,000 114.000 $ 2,432,500 $ 2.551.500 Total assets 182.000 $ 118,000 350.000 880.000 124.000 100.000 410.000 634.000 Liabilities Accounts payable Salanes payable Loan payable THER Shareholders equity Preferred shares Common shares et ned eachings Totat share solders uity 315.000 510.000 247.500 3.772.500 5 2432 500 490,000 310.000 217 500 1.500 Total abilities and shareholders equity 500 Print Done X Additional data Additional information. a. The administrative expenses included: Amortization expense on equipment, $108,000. Writedown of goodwill , $24,000. b. Sold equipment for its book value. The equipment cost $493,000 and had been amortized for $86,000. c Purchased additional equipment in December for $578,000. d Issued preferred shares for an investment purchase of $185,000. Declared and paid cash dividends: preferred, $242,000: common, $404.000 f. Sold 20.000 preferred shares for $7.00 per share. 9. Paid $92000 (of which $42.000 was interest) on the loans. e Print Done Income statement - x Andres Corp. Income Statement For the Year Ended December 31, 2020 Net sales $ 1,800,000 945,000 Cost of goods sold 855.000 Gross margin Operating expenses Selling expenses Administrative expenses 352.000 230,000 42.000 Interest expense 624,000 Total operating expenses Operating income Income taxes 231,000 55.000 Net income 5 176.000 Print Done