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The condensed financial statements of mark Company for the years 2010-1022 are presented below:

The condensed financial statements of mark Company for the years 2010-1022 are presented below:
marks Company
Comparative Balance Sheets
As of December 31, 2011 and 2010
2011 2010
Cash $420,000 $120,000
Receivable(net) 460,000 300,000
Inventories 380,000 340,000
Plant and equipment 1,700,000 1,112,000
Accumulated depreciation (260,000) (192,000)
$2,700,000 $1,680,000
Accounts payable $ 240,000 $160,000
Dividens payable 0 40,000
Bonds payable 400,000 0
Common stock ($10 par) 1,520,000 1,200,000
Retained earnings 540,000 280,000
2,700,000 1,680,000

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