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Exercise 13-13
Exercise 13-9 Your answer is partially correct .
Kinder Company has these comparative balance sheet data :
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 29,895 $ 59,790
Accounts receivable
139,510
119,580
( net )
Inventory
119,580
99,650
Plant assets
( net )
398,600
358,740
$ 687,585 $ 637,760
Accounts payable
$ 99,650 $ 119,580
Mortgage payable
199,300
199,300
( 15 %)
Common stock , $ 10 par
279,020
239,160
Retained earnings
109,615
79,720
$ 687,585 $ 637,760
Additional information for 2014 : 1 . Net income was $ 30,600 .
Sales on account were $ 377 , 000 . Sales returns and allowances 2 . amounted to $ 26,600 . 3 . Cost of goods sold was $ 201,000 . 4 . Net cash provided by operating activities was $ 58,500 . 5 . Capital expenditures were $ 26,100 , and cash dividends were