part 1
June 30, 2008/2007
Assets
Cash- 34,700/23,500
accounts receivable- 101,600/92,300
inventory- 146,300/142,100
Investment-0/50,000
Land-145,000/0
equipment- 215,000/175,500
accumulated depreciation- (53,400)/ (41,300)
2008= 594,000 /2007=442,100
Liabilities and stockholders equity
accounts payable (merchandise creditors)- 100,900/95,200
Accrued expense(operating expenses)- 15,000/13,200
Dividends payable- 12,500/10,000
common stock, $1 par- 56,000/50,000
paid in capital in excess of par- common stock- 220,000/100,000
2008=594,000/ 2007= 442,100
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