"Sievert Corporation Balance Sheets December 31"

Question

Using the Excel Answer Sheet, prepare responses to Problem Sets P2-6A
(Page 85-86), and P13-2A (Page 731-732), from Chapter 2 and 13 of
Financial Accounting: Tools for business decision making (6th ed.) by
John Wiley & Sons.

Solution

Title: "Sievert Corporation Balance Sheets December 31"
Length: 1 pages (275 Words)
Style: N/A

Preview

Assets	2012	2011
Cash	$28,000	$20,000
Receivables (net)	70,000	62,000
Other current assets	90,000	73,000
Long-term investments	62,000	60,000
Plant and equipment (net)	510,000	470,000
Total assets	$760,000	$685,000
Liabilities and Stockholders’ Equity
Current liabilities	75,000	70,000
Long-term debt	80,000	90,000
Common stock	330000	300000
Retained earnings	275000	225000
Total liabilities and stockholders’ equity	760,000	685,000

SIEVERT CORPORATION Income Statement For the Years Ended December 31

	2012	2011
Sales	$750,000	$680,000
Cost of goods sold	440,000	400,000
Operating expenses (including income taxes)	240,000	220,000
Net income	$70,000	$60,000

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