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Presentation/PPT
27/08/2022
Shamrock, Inc.
Comparative Balance Sheets
December 31
Assets
2017 Cash $ 164,832
2016 $ 98,736
2017 Accounts receivable $179,112
2016 $77,520
2017 Inventory $229,500
2016 $209,814
2017 Prepaid expenses $57,936
2016 $53,040
2017 Long-term investments $281,520
2016 $222,360
2017 Plant assets $581,400
2016 $494,700
2017 Accumulated depreciation (102,000)
2016 (106,080)
2017 Total $1,392,300
2016 Total$1,050,090
Liabilities and Stockholders’ Equity
2017 Accounts payable $ 208,080
2016 $ 137,292
2017 Accrued expenses payable $33,660
2016 $42,840
2017 Bonds payable $224,400
2016 $297,840
2017 Common stock $448,800
2016 $357,000
2017 Retained earnings $477,360
2016 $215,118
2017 Total $1,392,300
2016 $1,050,090
Shamrock, Inc.
Income Statement Data
For the Year Ended December 31, 2017
Sales revenue $792,458
Less: Cost of goods sold $276,338
Operating expenses, excluding depreciation $25,316
Depreciation expense $94,860
Income tax expense $55,651
Interest expense $9,649
Loss on disposal of plant assets $15,300
$477,114
Net income $ 315,344
1.New plant assets costing $204,000 were purchased for cash during the year.
2.Old plant assets having an original cost of $117,300 and accumulated depreciation of $98,940 were sold for $3,060 cash.
3.Bonds payable matured and were paid off at face value for cash.
4.A cash dividend of $53,102 was declared and paid during the year.
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