At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt...

 

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At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000, and $2800. Asset values are below. During 2003, Yung.com had sales of $4000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21% and all taxes are paid currently. The company has 100 shares of common stock outstanding at the end of 2003. Total dividends paid is $120 in 2003. Current Asset 2002 2003 Cash $800 $500 400 300 900 800 1800 Marketable securities Accounts receivable Inventory Fixed Assets Net Fixed Asset (Plant&Equipment) $6000 2000 $8000 In 2003, the (addition to) Retained Earnings is $ At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000, and $2800. Asset values are below. During 2003, Yung.com had sales of $4000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21% and all taxes are paid currently. The company has 100 shares of common stock outstanding at the end of 2003. Total dividends paid is $120 in 2003. Current Asset 2002 2003 Cash $800 $500 400 300 900 800 1800 Marketable securities Accounts receivable Inventory Fixed Assets Net Fixed Asset (Plant&Equipment) $6000 2000 $8000 In 2003, the (addition to) Retained Earnings is $

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