GILMOUR COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2015 AND 2014 Decem

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GILMOUR COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2015 AND 2014

December 31

2015

2014

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GILMOUR COMPANY
Comparative Balance Sheet
December 31, 2015 and 2014

December 31

Assets

2015

2014

Liabilities and Stockholders’ Equity

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GILMOUR COMPANY
Comparative Balance Sheet
December 31, 2015 and 2014

December 31

Increase or (Decrease)

Assets

2015

2014

$ Change

% Change

Liabilities and Stockholders’ Equity

Presented below are comparative balance sheets for the Gilmour Company.

GILMOUR COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2015 AND 2014

December 31

2015

2014

Assets Cash $179,800 $275,000 Accounts receivable (net) 219,700 155,400 Short-term investments 269,300 149,700 Inventories 1,060,800 980,900 Prepaid expenses 24,840 24,840 Plant & equipment 2,585,400 1,949,900 Accumulated depreciation (1,000,600) (749,000) $3,339,240 $2,786,740 Liabilities and Stockholders’ Equity Accounts payable $50,270 $75,330 Accrued expenses 170,100 200,900 Bonds payable 450,100 190,700 Capital stock 2,100,000 1,770,000 Retained earnings 568,770 549,810 $3,339,240 $2,786,740

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Explanation / Answer

Requirement 1

Requirement 2

GILMOUR COMPANY Comparative balance Sheet December 31, 2015 and 2014 Assets 2015 % 2014 % Cash          179,800 5.38%          275,000 9.87% Accounts Receivable          219,700 6.58%          155,400 5.58% Short term investments          269,300 8.06%          149,700 5.37% Inventories      1,060,800 31.77%          980,900 35.20% Prepaid Expenses            24,840 0.74%             24,840 0.89% Plant and Equipment      2,585,400 77.42%       1,949,900 69.97% Accumulated Depreciation    (1,000,600) -29.96%        (749,000) -26.88% Total      3,339,240       2,786,740 Liabilities and Stockholder's Equity Accounts Payable            50,270 1.51%             75,330 2.70% Accrued Expenses          170,100 5.09%          200,900 7.21% Bonds Payable          450,100 13.48%          190,700 6.84% Capital Stock      2,100,000 62.89%       1,770,000 63.52% Retained Earnings          568,770 17.03%          549,810 19.73% Total      3,339,240       2,786,740

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