724 Busto Class work chapter 13 (2) A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec 31, 2012 Dec 31, 2016 Assets Equipment 60.000 32.000 Accumulated depreciation equipment (20.000) (14,000) Long-term investments -0- 18.000 Prepaid expenses 6.000 9,000 Inventory 25,000 18.000 Accounts receivable 18,000 14,000 Cash 33.000 10.000 Total assets 122.000 87.000 Equity and Liabilities Share capital-ordinary 40.000 23.000 Retained earnings 28,000 10,000 Bonds payable 37.000 47,000 Accounts payable 17.000 7.000 Total equity and liabilities 122.000 87.000 Ex. 173 (Cont.) Additional information 1. Net income for the year ending December 31, 2017 was 724 Busto Class work chapter 13 (2) A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec 31, 2012 Dec 31, 2016 Assets Equipment 60.000 32.000 Accumulated depreciation equipment (20.000) (14,000) Long-term investments -0- 18.000 Prepaid expenses 6.000 9,000 Inventory 25,000 18.000 Accounts receivable 18,000 14,000 Cash 33.000 10.000 Total assets 122.000 87.000 Equity and Liabilities Share capital-ordinary 40.000 23.000 Retained earnings 28,000 10,000 Bonds payable 37.000 47,000 Accounts payable 17.000 7.000 Total equity and liabilities 122.000 87.000 Ex. 173 (Cont.) Additional information 1. Net income for the year ending December 31, 2017 was