Sunday 24 November 2019

Dawson Company's balance sheet information at the end of 2016 and 2017 is as follows:


Dawson Company's balance sheet information at the end of 2016 and 2017 is as follows:

2016 2017
Current assets $ (a) $25,000
Long-term liabilities (b) 34,900
Total contributed capital (c) (g)
Long-term investments 19,200 (h)
Retained earnings 51,300 61,100
Total liabilities (d) (i)
Intangible assets 10,400 9,000
Current liabilities 14,500 12,000
Common stock, $5 par (e) 20,000
Total assets 142,800 (j)
Additional paid-in capital 15,000 (k)
Property, plant, and equipment (net) 85,700 92,800
Accumulated other comprehensive income 7,000 6,000
Total shareholders' equity (f) (l)
Additional information: The company did not issue any common stock during 2017.
Required:
Prepare the correct balance sheet. All the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.)
DAWSON COMPANY
Balance Sheet
December 31

2016 2017
Assets

Current assets $ $
Long-term investments

Property, plant, and equipment (net)

Intangible assets

Total assets $ $



Liabilities

Current liabilities $ $
Long-term liabilities

Total liabilities $ $



Shareholders’ Equity

Common stock, $5 par $ $
Additional paid-in capital

Total contributed capital $ $
Retained earnings

Accumulated other comprehensive income

Total shareholders' equity $ $



Total liabilities and shareholders' equity $ $

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