You received partial credit in the previous attempt Statement of Financial Position Cashi Accounts receivable (net) Inventory Property, plant, and equipment (net) Other non-current assets Total assets Current liabilities Long-term debt (10%)) Share capital Contributed surplus Retained earnings Total liabilities and shareholders' equity Statement of Earnings Sales revenue (1/3 on credit) Cost of sales Expenses (including interest and income tax) Net earnings Armstrong Company Blair Company $ 35,200 $ 24,000 38,000 120,000 150,000 87,000 32,000 38,000 420,000 312,000 $ 430,200 $ 826,000 $ 105,000 $ 49,000 70,000 154,000 32,000 69,200 $ 430,200 $470,000 75,000 $20,000 122,000 60,000 $ 826,000 $830,000 (415,000) (315,400) (258,500) (159,800) $ $1,700 $ 99,600 Selected data from the financial statements for the previous year follows Accounts receivable (net) Armstrong Company Blair Company $ 22,000 $ 42,000 Inventory Long-term debt 90,000 70,000 44,000 75,000 Other data: Share price year-end $ 18 $ 15 30% 30% Income tax rate Dividends declared and paid $ 38,000 $170,000 Help Save & View prev