Question: Selected financial statement information for Johnston Enterprises is presented below Balance Sheet Data December 31, December 31 Cash 2013 2014 Accounts Receivable $104,000 $36.000 Less:

Selected financial statement information for Johnston Enterprises is presented below Balance Sheet Data December 31, December 31 Cash 2013 2014 Accounts Receivable $104,000 $36.000 Less: Allowance for Bad Debts 246,000 178.000 (27,000) (32.000 Prepaid Rent 15,000 42.000 Inventory 332,000 391.000 Property, Plant, and Equipment 1,122.000 1.377.000 (442,000) (592.000) Less: Accumulated Depreciation $1.350.000 $1.400.000 Total Assets 50,000 53.000 Unearned Revenue $102,000 $187.000 Accounts Payable (merchandise suppliers) 391,000 350.000 Bank Loan 467,000 340,000 $1.350.000 510,000 300.000 $1.400.000 Common Stock Retained Earnings Total Liabilities & Stockholders' Equity Income Statement Data for Calendar Year 2014 1,600,000 (980.000) 620,000 neuenue Selected financial statement information for Johnston Enterprises is presented below Balance Sheet Data December 31, December 31 Cash 2013 2014 Accounts Receivable $104,000 $36.000 Less: Allowance for Bad Debts 246,000 178.000 (27,000) (32.000 Prepaid Rent 15,000 42.000 Inventory 332,000 391.000 Property, Plant, and Equipment 1,122.000 1.377.000 (442,000) (592.000) Less: Accumulated Depreciation $1.350.000 $1.400.000 Total Assets 50,000 53.000 Unearned Revenue $102,000 $187.000 Accounts Payable (merchandise suppliers) 391,000 350.000 Bank Loan 467,000 340,000 $1.350.000 510,000 300.000 $1.400.000 Common Stock Retained Earnings Total Liabilities & Stockholders' Equity Income Statement Data for Calendar Year 2014 1,600,000 (980.000) 620,000 neuenue

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