The following information was taken from Lamberson Company's accounting records: Account Balances January 1, December 31, Account

The following information was taken from Lamberson Company's accounting records:

 

 
 

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Account Balances January 1, December 31, Account Titles 2016 2016 Debits Cash S1.400 $2,400 Accounts Receivable (net) 2,800 2,690 Marketable Securities (at cost) 1,700 3,000 Allowance for Change in Value S0D0 BO0 Inventories 8,100 7,910 Prepaid Items 1,300 1,710 Investments (long-term) 7,000 5,400 Land 15,000 15,000 Buildings and Equipment 32,000 46,200 Discount on Bonds Payable 290 $69,800 $85,400 Credits Accumulated Depredation $16,000 $16,400 Accounts Payable 3,800 4,150 Income Taxes Payable 2,400 2,504 Wages Payable 1,100 650 Interest Payable 400 Note Payable (long-term) 3,500 12% Bonds Payable 10,000 Deferred Taxes Payable 800 1,196 Convertible Preferred Stock, $100 par 9,000 Common Stock, $10 par 14,000 21,500 Additional Paid-in Capital 8,700 13,700 Unrealized Increase in Value of Marketable Securities B00 Retained Eamings 10,000 14,100 $69,800 S85,400 Additional information for the year: Sales 5 39,930 Cost of goods sold (19,890) Depreciation expense (2,100) Wages expense (11,000) Account Balances January 1, December 31, Account Titles 2016 2016 Debits Cash S1.400 $2,400 Accounts Receivable (net) 2,800 2,690 Marketable Securities (at cost) 1,700 3,000 Allowance for Change in Value S0D0 BO0 Inventories 8,100 7,910 Prepaid Items 1,300 1,710 Investments (long-term) 7,000 5,400 Land 15,000 15,000 Buildings and Equipment 32,000 46,200 Discount on Bonds Payable 290 $69,800 $85,400 Credits Accumulated Depredation $16,000 $16,400 Accounts Payable 3,800 4,150 Income Taxes Payable 2,400 2,504 Wages Payable 1,100 650 Interest Payable 400 Note Payable (long-term) 3,500 12% Bonds Payable 10,000 Deferred Taxes Payable 800 1,196 Convertible Preferred Stock, $100 par 9,000 Common Stock, $10 par 14,000 21,500 Additional Paid-in Capital 8,700 13,700 Unrealized Increase in Value of Marketable Securities B00 Retained Eamings 10,000 14,100 $69,800 S85,400 Additional information for the year: Sales 5 39,930 Cost of goods sold (19,890) Depreciation expense (2,100) Wages expense (11,000)