The comparative balance sheets for 2013 and 2012 and the statement of income for 2013
January 4th, 2018
The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company. Additional information from Wright’s accounting records is provided also.WRIGHT COMPANYComparative Balance SheetsDecember 31, 2013 and 2012($ in 000s)20132012AssetsCash$102$65Accounts receivable106110Short-term investment4922Inventory109105Land7895Buildings and equipment600470Less: Accumulated depreciation(157)(110)$887$757LiabilitiesAccounts payable$36$42Salaries payable47Interest payable85Income tax payable510Notes payable026Bonds payable222170Shareholders’ EquityCommon stock340270Paid-in capital—excess of par155135Retained earnings11792$887$757