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Accounting

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The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total assets 30,000 20,000 15,000 185,000 $250,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-Common Total liabilities and stockholders' equity $ 45,000 70,000 135,000 250.000 Sales Cost of goods sold Gross margin Operating expenses Interest expense Net income $85,000 45.000 $40,000 (15,000) Number of shares of common stock outstanding 6,000 The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total assets 30,000 20,000 15,000 185,000 $250,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-Common Total liabilities and stockholders' equity $ 45,000 70,000 135,000 250.000 Sales Cost of goods sold Gross margin Operating expenses Interest expense Net income $85,000 45.000 $40,000 (15,000) Number of shares of common stock outstanding 6,000

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