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ts balance sheet amounts at the end of Years 1 and 2 are as follows: Joyner Company's income statement for Year 2 follows: Year 2
ts balance sheet amounts at the end of Years 1 and 2 are as follows: Joyner Company's income statement for Year 2 follows: Year 2 Year 1 $ 713,000 227,000 486,000 218,000 268,000 $ 121,200 262,000 320,800 10,500 713,780 633,000 165,300 467,700 46.000 $1,227,400 $ 85,600 115,000 270,000 21,000 491,600 510,000 130,500 379.509 Sales Cost of goods sold Gross margin Selling and administrative expen Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income $871.188 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Loan to Hymans Company Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Totol stockholders' equity Total liabilities and stockholders' equity 10,000 278,000 111,200 $ 166,800 $318,000 47,000 85,800 450,00 205,000 655,800 348,000 223,600 571, 600 $1,227,400 $ 253,000 55,000 81,100 389,182 118,000 507,100 274,000 90,000 3 64,000 Its balance sheet amounts at the end of Years 1 and 2 are as folk Assets Cash Accounts receivable Inventory WNE ANON
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