Question: Financial data for Windsor, Inc. for last year appear below: Windsor, Inc. Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 252,000 $
Financial data for Windsor, Inc. for last year appear below:
| Windsor, Inc. Statements of Financial Position | ||||
| Beginning Balance | Ending Balance | |||
| Assets: | ||||
| Cash | $ | 252,000 | $ | 197,853 |
| Accounts receivable | 165,000 | 189,000 | ||
| Inventory | 298,000 | 236,000 | ||
| Plant and equipment (net) | 470,000 | 445,000 | ||
| Investment in Pine Company | 287,000 | 311,000 | ||
| Land (undeveloped) | 410,000 | 410,000 | ||
| Total assets | $ | 1,882,000 | $ | 1,788,853 |
| Liabilities and owners%u2019 equity: | ||||
| Accounts payable | $ | 227,000 | $ | 149,000 |
| Long-term debt | 860,000 | 860,000 | ||
| Owners%u2019 equity | 795,000 | 779,853 | ||
| Total liabilities and owners%u2019 equity | $ | 1,882,000 | $ | 1,788,853 |
| Windsor, Inc. Income statement | ||||
| Sales | $ | 2,270,000 | ||
| Less operating expenses | 1,884,100 | |||
| Net operating income | 385,900 | |||
| Less interest and taxes: | ||||
| Interest expense | $ | 104,700 | ||
| Tax expense | 127,347 | 232,047 | ||
| Net income | $ | 153,853 | ||
What is the company
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