A colleague who is aware of your understanding of financial statements asks for help in analyzing the transactions and events of Zett Corporation. The following data are provided:
| ZETT CORPORATION Don't use plagiarized sources. Get Your Custom Essay on a colleague who is aware of your understanding of financial statements asks for help 536445 For $10/Page 0nly Balance Sheets December 31, Year 1 and Year 2 | ||
| Year 1 | Year 2 | |
| Cash | $ 34,000 | $ 34,500 |
| Accounts receivable, net | 12,000 | 17,000 |
| Inventory | 16,000 | 14,000 |
| Investments (long term) | 6,000 | — |
| Fixed assets | 80,000 | 93,000 |
| Accumulated depreciation | (48,000) | (39,000) |
| Total assets | $100,000 | $119,500 |
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