Question: Financial data for Windsor, Inc. for last year appear below: Windsor, Inc. Statements of Financial Position Beginning Ending Balance Balance Assets: Cash $ 250,000 $

Financial data for Windsor, Inc. for last year appear below:

Windsor, Inc. Statements of Financial Position Beginning Ending Balance Balance Assets: Cash $ 250,000 $ 260,000 Accounts receivable. 120,000 135,000 Inventory 230,000 205,000 Plant and equipment (net) 420,000 380,000 Investment in Pine Company 220,000 250,000 Land (undeveloped) 430,000 430,000 Total assets $1.670.000 $1.660.000 Liabilities and owners' equity: Accounts payable. $ 160,000 $ 140,000 Long-term debt. 800,000 800,000 Owners' equity 710,000 720,000 Total liabilities and owners' equity $1.670,000 $1,660,000

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