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Use the Following Selected Data and Additional Information to Answer

Question 155

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Use the following selected data and additional information to answer the questions that follow:
 Balance Sheet Data 20142013 Accounts receivable $36,000$42,000 Inventories 28,00025,000 Accounts payable 31,00035,000 Salaries payable 2,0001,000 Equipment 60,00040,000 Accumulated depreciation 12,00016,000 Bonds payable 50,000100,000 Common stock 150,000100,000 Retained earnings 38,00020,000\begin{array}{lrr}\text { Balance Sheet Data }&2014&2013\\\text { Accounts receivable } & \$ 36,000 & \$ 42,000 \\\text { Inventories } & 28,000 & 25,000 \\\text { Accounts payable } & 31,000 & 35,000 \\\text { Salaries payable } & 2,000 & 1,000 \\\text { Equipment } & 60,000 & 40,000 \\\text { Accumulated depreciation } & 12,000 & 16,000 \\\text { Bonds payable } & 50,000 & 100,000 \\\text { Common stock } & 150,000 & 100,000 \\\text { Retained earnings } & 38,000 & 20,000\end{array} Use the following selected data and additional information to answer the questions that follow: \begin{array}{lrr}\text { Balance Sheet Data }&2014&2013\\ \text { Accounts receivable } & \$ 36,000 & \$ 42,000 \\ \text { Inventories } & 28,000 & 25,000 \\ \text { Accounts payable } & 31,000 & 35,000 \\ \text { Salaries payable } & 2,000 & 1,000 \\ \text { Equipment } & 60,000 & 40,000 \\ \text { Accumulated depreciation } & 12,000 & 16,000 \\ \text { Bonds payable } & 50,000 & 100,000 \\ \text { Common stock } & 150,000 & 100,000 \\ \text { Retained earnings } & 38,000 & 20,000 \end{array} Additional information: Additional information:
Use the following selected data and additional information to answer the questions that follow: \begin{array}{lrr}\text { Balance Sheet Data }&2014&2013\\ \text { Accounts receivable } & \$ 36,000 & \$ 42,000 \\ \text { Inventories } & 28,000 & 25,000 \\ \text { Accounts payable } & 31,000 & 35,000 \\ \text { Salaries payable } & 2,000 & 1,000 \\ \text { Equipment } & 60,000 & 40,000 \\ \text { Accumulated depreciation } & 12,000 & 16,000 \\ \text { Bonds payable } & 50,000 & 100,000 \\ \text { Common stock } & 150,000 & 100,000 \\ \text { Retained earnings } & 38,000 & 20,000 \end{array} Additional information: Use the following selected data and additional information to answer the questions that follow: \begin{array}{lrr}\text { Balance Sheet Data }&2014&2013\\ \text { Accounts receivable } & \$ 36,000 & \$ 42,000 \\ \text { Inventories } & 28,000 & 25,000 \\ \text { Accounts payable } & 31,000 & 35,000 \\ \text { Salaries payable } & 2,000 & 1,000 \\ \text { Equipment } & 60,000 & 40,000 \\ \text { Accumulated depreciation } & 12,000 & 16,000 \\ \text { Bonds payable } & 50,000 & 100,000 \\ \text { Common stock } & 150,000 & 100,000 \\ \text { Retained earnings } & 38,000 & 20,000 \end{array} Additional information:

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