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ACCT 382 - Week 5 - Chapter 5 Homework - Question 8

ACCT 382 - Week 5 - Chapter 5 Homework - Question 8
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ACCT 382 - Week 5 - Chapter 5 Homework - Question 8

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Question 8

The following condensed information was reported by Peabody Toys, Inc., for 2013 and 2012

  

($ in 000s)

  


  

2013

2012

  Income statement information

 

 

 

 

 

 

  Net sales

$

5,200

 

$

4,200

 

  Net income

 

180

 

 

124

 

  Balance sheet information

 

 

 

 

 

 

  Current assets

$

800

 

$

750

 

  Property, plant, and equipment (net)

 

1,100

 

 

950

 

  







       Total assets

$

1,900

 

$

1,700

 

  













  Current liabilities

$

600

 

$

450

 

  Long-term liabilities

 

750

 

 

750

 

  Paid-in capital

 

400

 

 

400

 

  Retained earnings

 

150

 

 

100

 

  







       Liabilities and shareholders’ equity

$

1,900

 

$

1,700