Problem 13-3

Condensed balance sheet and income statement data for Martinez Corporation are presented here.

Problem 13-3 Condensed balance sheet and income statement data for Martinez Corporation are presented here MARTINEZ CORPORATION Balance Sheets December 31 2017 2016 2015 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $.32,000 22,000 20,000 47,000 99,000 74,000 370,000 $737,000 $612,000 $545,000 $.87,000 82,000 72,000 89,000 314,000 127,000 $737,000 $612,000 $545,000 52,000 94,000 59,000 500,000 50,000 68,000 49,000 358,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings 149,000 324,000 177,000 54,000 304,000 115,000