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Concept Check PNG Company Comparative Balance Sheets Use the following

Question : Concept Check PNG Company Comparative Balance Sheets Use the following : 6715

Concept Check PNG Company Comparative Balance Sheets Use the following Comparative balance sheets, income statement, and additional information to answer questions (1) through (5) PNG Company Comparative Balance Sheets For the year ended December 31 20X1 Current assets $157.000 $105.000 49.000 62,000 Accounts receivable Inventory 53,700 36,100 Prepaid rent 11.400 8.300 271 100 211.400 Total current assets Long-term assets 30,000 Investment in bonds 14,800 216300 Land 184,200 Equipment net 114,500 137,900 360,800 336,900 Total long-term assets Total assets $631.900 $548.300 Current liabilities S61.300 52700 Accounts payable 4.900 8.500 Interest payable Income tax payable L 12.600 Total current liabilities 81.600 73800 Long-term liabilities 900 205.400 Bonds payable Stockholders' equity 183500 165.200 Common stock 1930001 103900 Retained earnings Total stockholders' equity LS631.900 S548300

 

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