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Weaver Corporation’s stock is selling for $16 per share. Weaver provided the following financial statements. Use these statements to prepare comprehensive ratio analysis tables similar to those illustrated in the chapter.

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Weaver Corporation’s stock is selling for $16 per share.  Weaver provided the following financial statements.  Use these statements to prepare comprehensive ratio analysis tables similar to those illustrated in the chapter.
WEAVER CORPORATION
Comparative Balance Sheet
December 31, 20X3 and 20X2
       
  Assets   20X3   20X2  
  Current assets      
  Cash   $          500,000   $       370,000  
  Accounts receivable               350,000            290,000  
  Inventories                90,000            110,000  
  Total current assets   $          940,000   $       770,000  
  Property, plant, & equipment      
  Land   $          200,000   $       200,000  
  Building               650,000            650,000  
  Equipment               950,000            900,000  
    $       1,800,000   $     1,750,000  
  Less: Accumulated depreciation              (365,000)          (325,000) 
  Total property, plant, & equipment   $       1,435,000   $     1,425,000  
  Total assets   $       2,375,000   $     2,195,000  
       
  Liabilities      
  Current liabilities      
  Accounts payable   $          160,000   $       200,000  
  Interest payable                40,000              30,000  
  Total current liabilities   $          200,000   $       230,000  
  Long-term liabilities      
  Long-term note payable               800,000            700,000  
  Total liabilities   $       1,000,000   $       930,000  
       
  Stockholders’ equity      
  Common stock ($0.50 par)   $          100,000   $       100,000  
  Paid-in capital in excess of par               655,000            655,000  
  Retained earnings               620,000            510,000  
  Total stockholders’ equity   $       1,375,000   $     1,265,000  
       
  Total liabilities and equity   $       2,375,000   $     2,195,000  
       
       
WEAVER CORPORATION
Statement of Retained Earnings
For the Year Ending December 31, 20X3
     
     
  Beginning retained earnings, January 1  $          510,000  
  Plus: Net income               160,000  
    $          670,000  
  Less: Dividends                50,000  
  Ending retained earnings, December 31  $          620,000  
     
     
WEAVER CORPORATION
Income Statement
For the year ending December 31, 20X3
     
     
  Revenues   $       1,685,000  
  Cost of goods sold               980,000  
  Gross profit   $          705,000  
  Operating expenses    
  Salaries  $          245,000   
  Interest               65,000   
  Depreciation               40,000   
  Other operating expenses              155,000              505,000  
  Income before income taxes   $          200,000  
  Less: Income taxes               40,000  
  Net income  $          160,000  
     
     
 
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