Zebra Share Company

Comparative Balance Sheet

December 31, 2019 and 2020
Assets 2019 2020
Current assets:
Cash 9,000 7,000
Marketable securities 3,000 2,000
Accounts receivable (net) 20,700 18,300
Inventories 24,900 23,700
Total current assets 57,600 51,000
Fixed assets:
Land and buildings 33,000 27,000
Plant and equipment 130,500 120,000
Total fixed assets 163,500 147,000
Less: accumulated depreciation 67,200 61,200
Net fixed assets 96,300 85,800
Total assets 153,900 136,800
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 20,100 17,100
Notes payable 14,700 13,200
Taxes payable 3,300 3,000
Total current liabilities 38,100 33,300
Long-term debt:
Mortgage bonds –5% 60,000 60,000
Total liabilities 98,100 93,300
Stockholders’ equity:
Preferred stock –5% (Br. 100 par) 6,000 -
Common stock (Br. 10 par) 33,000 30,000
Capital in excess of par value 7,500 4,500
Retained earnings 9,300 9,000
Total stockholders’ equity 55,800 43,500
Total liabilities and stockholders’ equity 153,900 136,800

Zebra Share Company

Income Statement
For the Year Ended December 31, 2020
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Net sales Br. 196,200
Cost of goods sold 159,600,
Gross profit Br. 36,600
Operating expenses* 26,100
Earnings before interest and taxes (EBIT) Br. 10,500
Interest expense 3,000
Earnings before taxes (EBT) Br. 7,500
Income taxes 3,600
Net income Br. 3,900

* Included in operating expenses are Br. 6,000depreciation and Br. 2,700 lease payment.

Zebra Share Company

Statement of Retained Earnings
For the Year Ended December 31, 2020
Retained earnings at beginning of year Br. 9,000
Add: Net income 3,900
Sub-total Br. 12,900
Less: Cash dividends
Preferred br 3,000
Common 3,300
Sub-total Br. 3,600
Retained earnings at end of year Br. 9,300