the 2012 comparative balance sheet and income statement of attleboro group inc follo 552749

ATTLEBORO GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011

2012

2011

Increase (Decrease)

Current assets:

Cash and cash equivalents

$ 11,800

$ 15,200

$ (3,400)

Accounts receivable

42,200

43,900

(1,700)

Inventories

96,800

93,500

3,300

Plant assets:

Land

39,800

14,000

25,800

Equipment, net

101,100

93,800

7,300

Total assets

$ 291,700

$ 260,400

$ 31,300

Current liabilities:

Accounts payable

$ 25,100

$ 26,300

$ (1,200)

Accrued liabilities

24,200

22,500

1,700

Long-term liabilities:

Notes payable

51,000

64,000

(13,000)

Stockholders’ equity:

Common stock

136,600

128,300

8,300

Retained earnings

54,800

19,300

35,500

Total liabilities and stockholders’ equity

$ 291,700

$ 260,400

$ 31,300

ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2012

Revenues:

Sales revenue

$ 441,000

Interest revenue

11,300

Total revenues

$ 452,300

Expenses:

Cost of goods sold

$ 205,300

Salary expense

76,500

Depreciation expense

15,100

Other operating expense

49,600

Interest expense

24,700

Income tax expense

16,700

Total expenses

387,900

Net income

$ 64,400