Answer:
$5,055,000 TOTAL CURRENT ASSETS
$2,435,000 TOTAL CURRENT LIABILITIES
$4,691,000 Retained Earnings
Explanation:
2017 Balance Sheet
$875,000 Cash
$2,095,000 Accounts Receivable
$2,085,000 Inventories
$5,055,000 TOTAL CURRENT ASSETS
$7,566,000 Property, plant, and equipment
$600,000 Accounts Receivable
$8,166,000 TOTAL NONCURRENT ASSETS
$13,221,000 TOTAL ASSETS
$1,761,000 Accounts Payable
$20,000 Deferred Income Tax Liability
$654,000 Income Tax Payable
$2,435,000 TOTAL CURRENT LIABILITIES
$65,000 Deferred Income Tax Liability
$65,000 TOTAL NONCURRENT LIABILITIES
$2,500,000 TOTAL LIABILITIES
$2,350,000 Common Stock
$3,680,000 Paid in Capital
$4,691,000 Retained Earnings
$10,721,000 TOTAL EQUITY
$13,221,000 TOTAL EQUITY + LIABILITIES
Income Statement 2021
Sales $13.560,000
Cost and Expenses -$11.180,000
Net Income Before Taxes and Int $2.380,000
Interest Expenses -$1.179,000
Net Income Before Taxes $1.201,000
