week 2 - Los Lobos Balance Sheet Assets Dec 31 2007 Current...

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Los Lobos Balance Sheet Assets Dec 31 2007 Dec 31 2006 Current Assets Cash $35,000 32,000 Accounts receivable 33,000 30,000 Allowance for doubtful accounts (1,300) 31,700 (1,100) 28,900 Inventory 31,000 47,000 Total Current Assets 97,700 107,900 Property, plant, & equipment 100,000 95,000 Accumulated depreciation (16,500) 83,500 (15,000) 80,000 Total Assets 181,200 187,900 Liabilities and Stockholders Equity Current Liabilities Trade accounts payable 25,000 15,500 Income taxes payable 21,000 29,100 Deferred income taxes 5,300 4,600 Current portion of long term debt 12,000 Total current liabilities 63,300 49,200 8% callable bonds payable , less current p 33,000 20,000 Unamortized bond discount (4,500) 28,500 (5,000) 15,000 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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