FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question 80

Using Financial Statements for 2018-2019. Net book value per share of common stock for 2018 is $18.46.

TRUE OR FALSE?

**Financial Statements Overview (2019 vs. 2018)**

**Balance Sheet**

*Assets:*
- **Cash:**  
  - 2019: $5,100,000  
  - 2018: $4,900,000  
- **Marketable Securities:**  
  - 2019: $102,000  
  - 2018: $98,000  
- **Accounts Receivable:**  
  - 2019: $1,632,000  
  - 2018: $1,568,000  
- **Inventories:**  
  - 2019: $2,856,000  
  - 2018: $2,744,000  
- **Total Current Assets:**  
  - 2019: $9,690,000  
  - 2018: $9,310,000  
- **Property, Plant, & Equipment:**  
  - 2019: $3,264,000  
  - 2018: $3,136,000  
- **Other Fixed Assets:**  
  - 2019: $2,703,000  
  - 2018: $2,597,000  
- **Total Fixed Assets:**  
  - 2019: $5,733,000  
  - 2018: $5,733,000  

- **Total Assets:**  
  - 2019: $15,657,000  
  - 2018: $15,043,000  

*Liabilities & Equity:*
- **Accounts Payable:**  
  - 2019: $1,878,840  
  - 2018: $1,805,160  
- **Notes Payable:**  
  - 2019: $1,722,270  
  - 2018: $1,654,730  
- **Accrued Expenses Payable:**  
  - 2019: $1,409,130  
  - 2018: $1,353,870  
- **Accrued Taxes Payable:**  
  - 2019: $1,252,560  
  - 2018: $1,203,440  
- **Total Current Liabilities:**  
  - 2019: $6,262,800  
  - 2018: $6,017,200  
- **Long-Term Debt:**
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Transcribed Image Text:**Financial Statements Overview (2019 vs. 2018)** **Balance Sheet** *Assets:* - **Cash:** - 2019: $5,100,000 - 2018: $4,900,000 - **Marketable Securities:** - 2019: $102,000 - 2018: $98,000 - **Accounts Receivable:** - 2019: $1,632,000 - 2018: $1,568,000 - **Inventories:** - 2019: $2,856,000 - 2018: $2,744,000 - **Total Current Assets:** - 2019: $9,690,000 - 2018: $9,310,000 - **Property, Plant, & Equipment:** - 2019: $3,264,000 - 2018: $3,136,000 - **Other Fixed Assets:** - 2019: $2,703,000 - 2018: $2,597,000 - **Total Fixed Assets:** - 2019: $5,733,000 - 2018: $5,733,000 - **Total Assets:** - 2019: $15,657,000 - 2018: $15,043,000 *Liabilities & Equity:* - **Accounts Payable:** - 2019: $1,878,840 - 2018: $1,805,160 - **Notes Payable:** - 2019: $1,722,270 - 2018: $1,654,730 - **Accrued Expenses Payable:** - 2019: $1,409,130 - 2018: $1,353,870 - **Accrued Taxes Payable:** - 2019: $1,252,560 - 2018: $1,203,440 - **Total Current Liabilities:** - 2019: $6,262,800 - 2018: $6,017,200 - **Long-Term Debt:**
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