ACC 560 MART Invent Yourself/acc560mart.com ACC 560 MART Invent Yourself/acc560mart.com | Page 69

FRIZELL COMPANY Balance Sheets December 31
2017 2016
Cash
$ 15,000
$
30,000
Accounts receivable( net) 70,000 60,000
Inventory 60,000 50,000
Plant assets( net) 200,000 180,000
$ 320,000
$ 345,000
Accounts payable
$ 50,000
$
60,000
Mortgage payable( 6 %) 100,000 100,000
Common stock, $ 10 par 140,000 120,000
Retained earnings 55,000 40,000