Business, 21.06.2021 16:20, miwptv105own5u8
The following is a condensed version of the comparative balance sheets for Bonita Corporation for the last two years at December 31.
2020 2019
Cash $ 300,900 $ 132,600
Accounts receivable 306,000 314,500
Investments 88,400 125,800
Equipment 506,600 408,000
Accumulated Depreciation-Equipment (180,200 ) (151,300 )
Current liabilities 227,800 256,700
Common stock 272,000 272,000
Retained earnings 521,900 300,900
Additional information:
Investments were sold at a loss of $17,000; no equipment was sold; cash dividends paid were $51,000; and net income was $272,000.
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