1. Arrange the following items in proper balance sheet presentation: Accumulated depreciation................................................ $200,000 Retained earnings................................................................... 110,000 Cash................................................................................. ..............5,000 Bonds payable.......................................................................... 142,000 Accounts receivable.................................................................38,000 Plant and equipment—original cost.................................. 720,000 Accounts payable.......................................................................35,000 Allowance for bad debts............................................................6,000 Common stock,...

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Finance

1. Arrange the following items in proper balance sheetpresentation:
Accumulateddepreciation................................................$200,000
Retainedearnings...................................................................110,000
Cash...............................................................................................5,000
Bondspayable..........................................................................142,000
Accountsreceivable.................................................................38,000
Plant and equipment—originalcost.................................. 720,000
Accountspayable.......................................................................35,000
Allowance for baddebts............................................................6,000
Common stock, $1 par, 150,000 shares outstanding...150,000
Inventory.......................................................................................66,000
Preferred stock, $50 par, 1,000 sharesoutstanding.....50,000
Marketablesecurities.................................................................15,000
Investments................................................................................... .20,000
Notespayable..................................................................................83,000
Capital paid in excess of par (commonstock)......................88,000
2. Elite Trailer Parks has an operating profit or $200,000.Interest expense for the year was $10,000; preferred dividends paidwere $18,750; and common dividends paid were $30,000. The tax was$61,250. The firm has 20,000 shares of common stockoutstanding.
a. Calculate the earnings per share and the common dividends pershare for Elite Trailer Parks.
b. What was the increase in retained earnings for the year?

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1 Proper Balance Sheet Presentation Liabilities and Equity Amount Common Stock 150000 Add Capital paid in excess of par Premium 88000 Total Common Stock 238000 Preference Shares 50000 Retained Earnings 110000 Total Equity 1 398000 Bonds Payable 142000 Accounts Payable 35000 See Answer

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1. Arrange the following items in proper balance sheetpresentation:Accumulateddepreciation................................................$200,000Retainedearnings...................................................................110,000Cash...............................................................................................5,000Bondspayable..........................................................................142,000Accountsreceivable.................................................................38,000Plant and equipment—originalcost.................................. 720,000Accountspayable.......................................................................35,000Allowance for baddebts............................................................6,000Common stock, $1 par, 150,000 shares outstanding...150,000Inventory.......................................................................................66,000Preferred stock, $50 par, 1,000 sharesoutstanding.....50,000Marketablesecurities.................................................................15,000Investments................................................................................... .20,000Notespayable..................................................................................83,000Capital paid in excess of par (commonstock)......................88,0002. Elite Trailer Parks has an operating profit or $200,000.Interest expense for the year was $10,000; preferred dividends paidwere $18,750; and common dividends paid were $30,000. The tax was$61,250. The firm has 20,000 shares of common stockoutstanding.a. Calculate the earnings per share and the common dividends pershare for Elite Trailer Parks.b. What was the increase in retained earnings for the year?