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- What is the Net Plant & Equipment in 1998 and 1999? (6 points)
- Calculate the balance for Account Receivable in 1998 and 1999? (8 points)
- What is the firms Net Income in 1998 and 1999? (8 points)
- What is the Quick ratio in 1998 and 1999? (6 points)
See the following financial information (Income Statement and balance Sheet) for Thornton Company for the years ending December 31, 1998 and 1999. 1998 1999 Notes Payable Inventories Long-term Investment (Long-term Asset) Sales Corporate Bond (Long-term Debt) Annual Depreciation Excess Paid in Capital $450,000 $730,000 $170,000 $2,990,000 $580,000 $120,000 $200,000 $70,000 $50,000 $200,000 $540,000 $1,500,000 $80,000 $180,000 $420,000 $690,000 $180,000 $3,140,000 $650,000 $125,000 $230,000 $90,000 $20,000 $320,000 Taxes Cash Accumulated Depreciation Accounts Payable $500,000 Costs of Good Sold Interest Expenses Retained Earnings $1,800,000 $90,000 $210,000 Common Stock $100,000 $1,000,000 Gross Plant & Equipment Selling & Administrative Expense $150,000 $1,310,000 $490,000 $410,000 Accounts Receivable ?? Marketable Securities $30,000 Accrued Expenses Total Shares Outstanding $30,000 $70,000 200,000 $150,000 $50,000 250,000 $160,000 R&D Expense
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