RUFF SANDPAPER CO.

Balance Sheets

For the Years Ended 2007 and 2008

Balance Sheet

Common stock dividends paid in 2008 amounted to __________. (See Figure 3.1.)
A) $600
B) $50
C) $150
D)$100

Transcribed Image Text:

Balance Sheets For the Years Ended 2007 and 2008 2008 2007 Assets Cash Marketable securities Accounts receivable Inventories Gross fixed assets Less Accumulated Depreciation Net fixed assets Total assets Liabilities Accounts payable Notes payable Accruals Long-term debt Stockholders' equity Common stock at par Paidin capital in excess of par Retained earnings Total liabilities and equity Net profits after taxes for 2008 800 200 1,200 2,000 3.000 1,000 2,000 6,200 600 200 1,000 1,800 2,800 800 2,000 5,600 200 800 100 2,000 100 900 100 1,500 500 2,000 600 6,200 $150.00 500 2,000 500 5.600