SARGENT CORPORATION
Balance Sheet
December 31, 2010
Assets
Current assets
Cash
.....................................................
$150,000
Trading securities (at fair value)
.......
80,000
Accounts receivable
...........................
$
170,000
Less:
Allowance for doubtful
accounts
.............................
10,000
160,000
Inventories, at lower of cost
(determined using FIFO) or market
....
180,000
Total current assets
......................
$
570,000
Long-term investments
Investments in common stock
(at fair value)
....................................
270,000
Bond sinking fund
..............................
250,000
Cash surrender value of life
insurance
..........................................
40,000
Land held for future use
.....................
270,000
830,000
Property, plant, and equipment
Land
.....................................................
500,000
Buildings
..............................................
1,040,000
Less:
Accum. depreciation—
building
..............................
360,000
680,000
Equipment
...........................................
450,000
Less:
Accum. depreciation—
equipment
..........................
180,000
270,000
1,450,000
Intangible assets
Franchise
.............................................
165,000
Goodwill
...............................................
100,000
265,000
Total assets
