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Assets Liabilities and Owners’ EquityCurrent assets: Current liabilities:Cash $ 1,449 Accounts payable $ 5,602Marketable securities 246 Bank loan payable 1,000Accounts receivable, net 9,944 Accrued liabilities 876Inventories 10,623 Estimated tax liability 1,541Prepaid expenses 389 Current portion of long- term debt 500 Total current assets $22,651 Total current liabilities $ 9,519
Current SectionCurrent SectionCurrent SectionCurrent Section
Assets Liabilities and Owners’ EquityNoncurrent assets: Noncurrent liabilities:Property, plant, equipment Long-term debt, less at cost $26,946 current portion $ 2,000 Less: Accumulated Deferred income taxes 824 Depreciation 13,534 Total liabilities 12,343Property, plant, equipment net 13,412 Owners’ equity:Investments 1,110 Common stock 1,000Patents and trademarks 403 Additional paid-in capital 11,256Goodwill 663 Total paid-in capital 12,256
Retained earnings 13,640Total owners’ equity 25,896Total liabilities and owners’
Useful to present and potential investors and creditors in Useful to present and potential investors and creditors in making rational investment and credit decisionsmaking rational investment and credit decisions
Comprehensible to those who have a reasonable Comprehensible to those who have a reasonable understanding of business and economic activities and are understanding of business and economic activities and are willing to study the information with reasonable diligencewilling to study the information with reasonable diligence
About the economic resources of an enterprise, the claims About the economic resources of an enterprise, the claims to those resources, and the effects of transactions and to those resources, and the effects of transactions and events that change resources and claims to those resourcesevents that change resources and claims to those resources
About an enterprise’s financial performance during a About an enterprise’s financial performance during a periodperiod
Useful to present and potential investors and creditors in Useful to present and potential investors and creditors in making rational investment and credit decisionsmaking rational investment and credit decisions
Comprehensible to those who have a reasonable Comprehensible to those who have a reasonable understanding of business and economic activities and are understanding of business and economic activities and are willing to study the information with reasonable diligencewilling to study the information with reasonable diligence
About the economic resources of an enterprise, the claims About the economic resources of an enterprise, the claims to those resources, and the effects of transactions and to those resources, and the effects of transactions and events that change resources and claims to those resourcesevents that change resources and claims to those resources
About an enterprise’s financial performance during a About an enterprise’s financial performance during a periodperiod