Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets 2021 $75 115 200 $390 $580 110 $470 50 $520 $910 2020 $ 65 110 190 $365 $471 100 $371 49 $420 $785 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt: Stockholders' equity: Preferred stock (5 million shares) Common stock and paid-in surplus (65 million shares) Retained earnings Total Total liabilities and equity LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 2021 $40 90 80 $210 $300 $5 65 330 $400 $910 2020 $43 80 70 $193 $280 $5 65 242 $312 $785
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets 2021 $75 115 200 $390 $580 110 $470 50 $520 $910 2020 $ 65 110 190 $365 $471 100 $371 49 $420 $785 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt: Stockholders' equity: Preferred stock (5 million shares) Common stock and paid-in surplus (65 million shares) Retained earnings Total Total liabilities and equity LAKE OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 2021 $40 90 80 $210 $300 $5 65 330 $400 $910 2020 $43 80 70 $193 $280 $5 65 242 $312 $785
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.15E
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