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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31...

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Accounting

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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment 310 105 $ 13 230 165 431 540 414 430 4 0 390 Less accumulated depreciation Net property, Long-term investments Total assets 485 28 $ 944 plant, and equipment $ 837 Liabilities and Stockholders Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stochk Retained earnings Total stockholders' equity Total liabilities and stockholders' equity s 250 65 385 210 595 226 123 349 $ 944 $ 215 80 63 358 130 488 300 49 349 $ 837 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: $730 415 315 204 Gain on sale of investments (6) Loss on sale of equipment Income before taxes Income taxes 9 120 36 Net income S 84

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