JC week 2 LT assignment

JC week 2 LT assignment - Los Lobos Classified Balance...

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Los Lobos 31-Dec-07 31-Dec-06 Assets Current assets Cash 35,000 32,000 Accounts receivable (net) 31,700 28,900 Inventory 31,000 47,000 Total current assets 97,700 107,900 Non-current assest Property, plant, and equipment 100,000 95,000 Accumulated depreciation (16,500) (15,000) Total non-current asstes 83,500 80,000 Total assets 181,200 187,900 Liabilities and Stockholder's Equity Current liabilities Trade accounts payable 25,000 15,500 Income taxes payable 21,000 29,100 Current portion of bonds payable 12,000 12,000 Total current liabilities 58,000 56,600 Long-term liabilities Unamortized bond discount (4,500) (5,000) Deferred income taxes 5,300 4,600 Bonds payable, less current portion 33,000 8,000 Total long-term liabilities 33,800 7,600 Total liabilities 91,800 64,200 Stockholders' Equity Common stock 50,000 40,000 Additional paid-in capital 9,100 7,500 Retained earnings * 30,300 76,200 Total stockholders' equity 89,400 123,700 Total liabilities and stockholders' equity $181,200 $187,900
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JC week 2 LT assignment - Los Lobos Classified Balance...

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