Compare Company Statement of Financial Position December 31,2016 and December 31, 2017 2017 2016 Current Assets Cash 190,000.00 160,000.00 Accounts Receivable 170,000.00 160,000.00 100,000.00...

Extracted text: Compare Company Statement of Financial Position December 31,2016 and December 31, 2017 2017 2016 Current Assets Cash 190,000.00 160,000.00 Accounts Receivable 170,000.00 160,000.00 100,000.00 Inventory Prepaid Expense 80,000.00 80,000.00 80,000.00 Total current assets 520,000.00 500,000.00 Noncurrent Assets Plant and Equipment Total assets 1,450,000.00 1,430,000.00 1,970,000.00 1,930,000.00 Current Liabilities Accounts Payable 180,000.00 190,000.00 Accrued liabilities 110,000,00 80,000.00 Notes Payable (short term) 210,000.00 210,000.00 Total Current Liabilities 500,000.00 480,000.00 Long-term Debt Owner's Capital Total Liabilities and Equity 470,000.00 500,000.00 1,000,000.00 950,000.00 1,970,000.00 1,930,000.00


Extracted text: COMPARE CORPORATION Income Statement December 31,2016 and December 31,201 2017 2016 Net Sales 3,950,000.00 2,980,000.00 Less Cost of Goods Sold 1,500,000.00 1,050,000.00 Gross Profit 2,450,000.00 1,930,000.00 Less: Other Expenses 800,000.00 1,650,000.00 700,000.00 Operating Income Less: Interest Expense 1,230,000.00 30,000.00 25,000.00 Net Income 1,620,000.00 1,205,000.00