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The financial statements for Castile Products, Incorporated are given below: Castile Products, Incorporated Balance Sheet...

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Accounting

The financial statements for Castile Products, Incorporated are given below: Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash $ 19,000 Accounts receivable, net 240,000 Merchandise inventory 380,000 Prepaid expenses 10,000 Total current assets 649,000 Property and equipment, net 900,000 Total assets $ 1,549,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 220,000 Bonds payable, 11% 360,000 Total liabilities 580,000 Stockholders equi

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