A comparative balance sheet for Lomax Company containing data for the last two years is as follows:
The following additional information is available about the company's activities during this year:
a The company declared and paid a cash dividend this year.
b Bonds with a principal balance of $ were repaid during this year.
c Equipment was sold during this year for $ The equipment had cost $ and had $ in accumulated depreciation on the date of sale.
d Longterm investments were sold during the year for $ These investments had cost $ when purchased several years ago.
e The subsidiaries did not repay any outstanding loans during the year.
f Lomax did not repurchase any of its own stock during the year.
The company reported net income this year as follows:
tabletableSalesCost of goods soldtable$
