Week #7 Homework i Saved Help Save & Exit Submit Check my work Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet Part 1 of 2 at December 31 This Last Year Year Assets 6.25 Cash and cash equivalents $ 16 $ 11 points Accounts receivable 290 231 Inventory 159 196 Prepaid expenses 9 5 Skipped Total current assets 474 143 Property, plant, and equipment 508 430 Less accumulated depreciation (82) (72 eBook Net property, plant, and equipment 426 358 Long-term investments 24 31 Print Total assets $ 924 $832 References Liabilities and Stockholders' Equity Accounts payable $ 304 $225 Accrued liabilities 72 79 Income taxes payable 72 63 Total current liabilities 448 367 Bonds payable 195 170 Total liabilities 643 537 Common stock 163 202 Retained earnings 118 93 Total stockholders' equity 281 295 Total liabilities and stockholders' equity $ 924 $832 Weaver Company Income Statement For This Year Ended December 31 $757 Mc Graw P.re.v. 1 2 of 2 Next > HillG importance of honesty in lead x McGraw Hill Connect Deep Int. x 5 Question 1 - Week #7 Homewo X C During This Year, Weaver Sold X Homework Help - Q&A from Or X + X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%. O Week #7 Homework Saved Help Save & Exit Submit Check my work Y ULT Weaver Company Income Statement Part 1 of 2 For This Year Ended December 31 Sales $752 Cost of goods sold 446 Gross margin 306 6.25 Selling and administrative expenses 221 points Net operating income 85 Nonoperating items: Skipped Gain on sale of investments $ 5 Loss on sale of equipment ( 2 ) 3 Income before taxes 88 Income taxes 24 eBook Net income $ 64 Print References During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. Mc Graw Hill 9 M 31 2 9 8:07