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Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method
Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598   ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622 Additional information:1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year. Prepare a statement of cash flows using the indirect method

ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598  
ODGERS INC.Comparative Balance SheetsDecember 31 Assets 2014 2013 Cash $ 178,568 $ 106,964 Accounts receivable 194,038 83,980 Inventory 248,625 227,299 Prepaid expenses 62,764 57,460 Long-term investments 304,980 240,890 Plant assets 629,850 535,925 Accumulated depreciation (110,500 ) (114,920 ) Total $1,508,325   $1,137,598   Liabilities and Stockholders’ Equity Accounts payable $ 225,420 $ 148,733 Accrued expenses payable 36,465 46,410 Bonds payable 243,100 322,660 Common stock 486,200 386,750 Retained earnings 517,140   233,045   Total $1,508,325   $1,137,598  
ODGERS INC.Comparative Balance SheetsDecember 31
ODGERS INC.Comparative Balance SheetsDecember 31

Assets 2014 2013
Assets
2014
2013
Cash $ 178,568 $ 106,964
Cash
$ 178,568
$ 106,964
Accounts receivable 194,038 83,980
Accounts receivable
194,038
83,980
Inventory 248,625 227,299
Inventory
248,625
227,299
Prepaid expenses 62,764 57,460
Prepaid expenses
62,764
57,460
Long-term investments 304,980 240,890
Long-term investments
304,980
240,890
Plant assets 629,850 535,925
Plant assets
629,850
535,925
Accumulated depreciation (110,500 ) (114,920 )
Accumulated depreciation
(110,500
)
(114,920
)
Total $1,508,325   $1,137,598  
Total
$1,508,325
 
$1,137,598
 
Liabilities and Stockholders’ Equity
Liabilities and Stockholders’ Equity
Accounts payable $ 225,420 $ 148,733
Accounts payable
$ 225,420
$ 148,733
Accrued expenses payable 36,465 46,410
Accrued expenses payable
36,465
46,410
Bonds payable 243,100 322,660
Bonds payable
243,100
322,660
Common stock 486,200 386,750
Common stock
486,200
386,750
Retained earnings 517,140   233,045  
Retained earnings
517,140
 
233,045
 
Total $1,508,325   $1,137,598  
Total
$1,508,325
 
$1,137,598
 

ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622
ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014 Sales revenue $858,497 Less:      Cost of goods sold $299,367      Operating expenses, excluding depreciation 27,426      Depreciation expense 102,765      Income tax expense 60,289      Interest expense 10,453      Loss on disposal of plant assets 16,575 516,875 Net income $ 341,622
ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014
ODGERS INC.Income Statement DataFor the Year Ended December 31, 2014

Sales revenue $858,497
Sales revenue
$858,497
Less:
Less:
     Cost of goods sold $299,367
     Cost of goods sold
$299,367
     Operating expenses, excluding depreciation 27,426
     Operating expenses, excluding depreciation
27,426
     Depreciation expense 102,765
     Depreciation expense
102,765
     Income tax expense 60,289
     Income tax expense
60,289
     Interest expense 10,453
     Interest expense
10,453
     Loss on disposal of plant assets 16,575 516,875
     Loss on disposal of plant assets
16,575
516,875
Net income $ 341,622
Net income
$ 341,622

1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year.
1. New plant assets costing $221,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $57,527 was declared and paid during the year.
1. New plant assets costing $221,000 were purchased for cash during the year.
1.
New plant assets costing $221,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash.
2.
Old plant assets having an original cost of $127,075 and accumulated depreciation of $107,185 were sold for $3,315 cash.
3. Bonds payable matured and were paid off at face value for cash.
3.
Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $57,527 was declared and paid during the year.
4.
A cash dividend of $57,527 was declared and paid during the year.
A cash dividend of $57,527 was declared and paid during the year.

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