e condensed financial statements of Marks Company for the years 2017-2018 are presented below
e condensed financial statements of Marks Company for the years 2017-2018 are presented below: Marks Company Comparative Balance Sheets As of December 31, 2017 and 201820182017Cash$398,000$155,000Accounts receivable (net)372,000305,000Inventories375,000342,000Plant and equipment1,821,0001,119,000Accumulated depreciation(263,000)(195,000)$2,703,000$1,726,000Accounts payable$342,000$162,000Dividends payable-0-42,000Bonds payable401,000-0-Common stock ($10 par)1,520,0001,240,000Retained earnings440,000282,000$2,703,000$1,726,000 Additional data:Market value of stock at 12/31/18 is $80 per share.Marks sold 35,000 shares of common stock at par on […]