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USE THE FOLLOWING INFORMATION FOR THE NEXT (2) QUESTIONS The trial balance after adjustment had the following balances on December 31, 2014: Cash Interest
USE THE FOLLOWING INFORMATION FOR THE NEXT (2) QUESTIONS The trial balance after adjustment had the following balances on December 31, 2014: Cash Interest Expense Land $ 6,000 Accounts Receivable 14,000 Sales Revenue $ 21,000 480,000 7,000 Note Payable, due 2018 30,000 Accounts Payable 18,000 Prepaid Expenses 4,000 Building 304,000 Cost of Goods Sold 265,000 Unearned Revenues Dividends 9,000 Retained Earnings (Jan 1 '14) 113,000 3,000 Common Stock 100,000 Accumulated Depreciation - Bldg 104,000 Patent 2,000 Accrued Expenses Payable 11,000 Operating Expenses 172,000 Inventory 67,000 What are the company's total (net) assets as of December 31, 2014? $624,000 $411,000 $303,000 $307,000
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