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Financial information for hanshew company is presented below hanshew company balance sheets december 31 assets 2009 2008 cash 70 000 65 000 short term investments 52 000 40 000 receivable net 98 000 80 000 inventories 125 000 135 000 prepaid expenses 29 000 23 000 land 130 000 130 000 building and equipment net 180 000 175 000 684 000 648 000 liabilities and stockholders equity notes payable 100 000 100 000 accounts payable 48 000 42 000 accrued liabilities 50 000 40 000 bonds payable due 2012 150 000 150 000 common stock 10 par 200 000 200 000 retained earnings 136 000 116 000 684 000 648 000 hanshew company income statement for the years ended december 31 2009 2008 sales 850 000 790 000 cost of goods sold 620 000 575 000 gross profit 230 000 215 000 operating expenses 187 000 173 000 net income 43 000 42 000 | ||||||
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