Question: Below is Candy Corp's Status for 2000 and 2001. By 2001, this company had a net income of 2,600 and paid the amount of 2,200
Current Assets 2000 2001 Cash Accounts receivable Inventory TOTAL CURRENT ASSETS Gross Fixed Assets Less: Accum.Depreciation Net Fixed Assets TOTAL ASSETS $ 200 1,600 2.200 $ 4,000 $12,000 (6,000) 6,000 $10,000 $ 1.000 1,000 2.600 $ 4,600 12,400 (6.400) 6.000 $10,400 Liabilities and Stockholder's equity Accounts payable Notes payable Total Current liabilities Long-term debt TOTAL LIABILITIES $ 1,600 1,000 $ 2,600 2.000 $ 4,600 $ 1,800 1.000 $ 2,800 1.800 $ 4,600 Stockholder's equity Common Stock Retained Earnings Total Stockholder's equity TOTAL EQUITIES $ 4,000 1.400 $5.400 $10,000 $ 4,000 1.800 $ 5,800 $ 10,400
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