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Q1. For December 31,2007, the balance sheet of the Gardner Corporation is as follows: ...

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Accounting

Q1. For December 31,2007, the balance sheet of the Gardner Corporation is as follows:
\table[[Current Assets,Liabilities],[Cash.,$ 15,000,Accounts payable.............,$ 20,000],[Accounts receivable..................,22,500,Notes payable....................,30,000],[Inventory.................................,37,500,Bonds payable...................,75,000],[Prepaid expenses.......................,18,000,,],[Fixed Assets,,Stockholders' Equity],[Plant and equipment (gross).......,$375,000,Common stock.,$112,500],[Less: Accumulated....................,,Paid-in capital...................,37,500],[depreciation...........................,75,000,Retained earnings.........,118,000?
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