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WATERWAY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2018 AND 2017 Dece

ID: 2527764 • Letter: W

Question

WATERWAY COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2018 AND 2017

December 31

2018

2017

(a)

WATERWAY COMPANY
Comparative Balance Sheet
December 31, 2018 and 2017

December 31

Assets

2018

2017

Liabilities and Stockholders’ Equity

Presented below is the comparative balance sheet for Waterway Company.

WATERWAY COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2018 AND 2017

December 31

2018

2017

Assets Cash $181,800 $277,500 Accounts receivable (net) 219,300 156,400 Short-term investments 267,800 149,100 Inventories 1,067,900 971,700 Prepaid expenses 24,900 24,900 Plant & equipment 2,571,400 1,962,400 Accumulated depreciation (1,001,800) (746,800) $3,331,300 $2,795,200 Liabilities and Stockholders’ Equity Accounts payable $49,500 $74,800 Accrued expenses 170,000 198,300 Bonds payable 447,200 190,700 Capital stock 2,117,900 1,792,000 Retained earnings 546,700 539,400 $3,331,300 $2,795,200

Explanation / Answer

2018 2017 Assets: Cash 181800 5.46% 277500 9.93% Accounts receivable (net) 219300 6.58% 156400 5.60% Short-term investments 267800 8.04% 149100 5.33% Inventories 1067900 32.06% 971700 34.76% Prepaid expenses 24900 0.75% 24900 0.89% Plant and equipment 2571400 77.19% 1962400 70.21% Accumulated depreciation -1001800 -30.07% -746800 -26.72% Total 3331300 100.00% 2795200 100.00% Liabilities and Stockholders’ Equity: Accounts payable 49500 1.49% 74800 2.68% Accrued expenses 170000 5.10% 198300 7.09% Bonds payable 447200 13.42% 190700 6.82% Capital stock 2117900 63.58% 1792000 64.11% Retained earnings 546700 16.41% 539400 19.30%      Total 3331300 100.00% 2795200 100.00%