Would you advise a friend to invest in that company? Support your answer with a comprehensive explanation incorporating sound reasoning. Your advice should be well written with introductory and concluding paragraph. References should be appropriately cited. 24ABC Industires25Consolidated BalanceSheet26As of December 31,202027282020201929AmountAmount%30 Current Assets31 Cash and Cash Equivalents1,271,231994,4096.51% P677,6003.82%32 Accounts Receivable (Net)P5.09% P773,1344.35%33 Note Receivable350,0001.79% P320,0001.80%34 Merchanidse Inventories3,250,00016.64% P4,190,00023.59%35 Total Current AssetsP 5,865,640 30.03% P 5,960,73433.56%3637 Property & equipment (Net)P 13,668,85069.97% P 11,798,15566.44%3839 Total AssetsP 19,534,490 100.00% P17,758,889 100.00%4041 Liabilities42 Accounts Payable43 Salaries PayableP1,275,3006.53% P1,477,8008.32%330,0001.69% P245,2001.38%44 Income Taxes Payable45 Other accrued ExpensesP925,2394.74% P500,2002.82%P8,0000.04% P48,3390.27%46 Total Current LiabilitiesP 2,538,53913.00% P 2,271,53912.79%4748 Long-Term Liabilities49 Mortgage Payable50 Bonds Payable500,0002.56% P536,0003.02%P 2,400,000P 2,900,0002,340,00014.85% P 2,876,00012.29% P13.18%51 Total Long term liabilities16.19%5253 Total LiabilitiesP 5,438,53927.84% P 5,147,53928.99%5455 Stock Holder's Equity56 Common Stock.2,500, 00 shares57 at P 1 par value per shareP2,500,00012.80% P2,498,75014.07%5859 Capital in excess of Par ValueP1,750,0008.96% P1,726,2509.72%6061 Retained Earnings, January 1,20XXP8,386,35042.93% P6,991,63339.37%6263 Net Income for the yearP1,509,6017.73% P1,424,7178.02%6465 Less:Dividends-P50,000-0.26% -P30,000-0.17%6667 Retained Earnings, Dec 31 20XXP 9,845,95150.40% P 8,386,35047.22%6869 Total Stock holder EquityP 14,095,95172.16% P 12.611.35071.01%7071 Total liabilities and Stock holder EquititesP 19,534,490 100.00% P17,758,889100.00%7273

Answered: Image /qna-images/answer/faf0ce7b-9cb1-4e21-881f-773fc00b3203.jpg

Consolidated BalanceSheet As of December 31,2020 2020 2019 Amount % Amount % Current Assets P 1,271,231 Cash and Cash Equivalents Accounts Receivable (Net) 6.51% P 677,600 3.82% P 994,409 5.09% P 773,134 4.35% Note Receivable P 350,000 1.79% P 320,000 1.80% P 3,250,000 P 5,865,640 30.03% P 5,960,734 33.56% Merchanidse Inventories 16.64% P 4,190,000 23.59% Total Current Assets Property & equipment (Net) P 13,668,850 69.97% P 11,798,155 66.44% Total Assets P 19,534,490 100.00% P17,758,889 100.00% Liabilities P 1,275,300 Accounts Payable Salaries Payable Income Taxes Payable Other accrued Expenses 6.53% P 1,477,800 8.32% P 330,000 1.69% P 245,200 1.38% P 925,239 4.74% P 500,200 2.82% P 8,000 0.04% P 48,339 0.27% Total Current Liabilities P 2,538,539 13.00% P 2,271,539 12.79% Long-Term Liabilities Mortgage Payable Bonds Payable P 500,000 2.56% P 536,000 3.02% P 2,400,000 P 2,900,000 12.29% P 2,340,000 13.18% Total Long term liabilities 14.85% P 2,876,000 16.19% Total Liabilities P 5,438,539 27.84% P 5,147,539 28.99%

Consolidated BalanceSheet As of December 31,2020 2020 2019 Amount % Amount % Current Assets P 1,271,231 Cash and Cash Equivalents Accounts Receivable (Net) 6.51% P 677,600 3.82% P 994,409 5.09% P 773,134 4.35% Note Receivable P 350,000 1.79% P 320,000 1.80% P 3,250,000 P 5,865,640 30.03% P 5,960,734 33.56% Merchanidse Inventories 16.64% P 4,190,000 23.59% Total Current Assets Property & equipment (Net) P 13,668,850 69.97% P 11,798,155 66.44% Total Assets P 19,534,490 100.00% P17,758,889 100.00% Liabilities P 1,275,300 Accounts Payable Salaries Payable Income Taxes Payable Other accrued Expenses 6.53% P 1,477,800 8.32% P 330,000 1.69% P 245,200 1.38% P 925,239 4.74% P 500,200 2.82% P 8,000 0.04% P 48,339 0.27% Total Current Liabilities P 2,538,539 13.00% P 2,271,539 12.79% Long-Term Liabilities Mortgage Payable Bonds Payable P 500,000 2.56% P 536,000 3.02% P 2,400,000 P 2,900,000 12.29% P 2,340,000 13.18% Total Long term liabilities 14.85% P 2,876,000 16.19% Total Liabilities P 5,438,539 27.84% P 5,147,539 28.99%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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