Answer Happy

The following information is taken from the 2020 annual report of Bramble, Inc. Bramble's fiscal year ends December 31 of each year. Bramble's December 31, 2020, balance sheet is as follows. Bramble, Inc. Balance Sheet December 31, 2020 Assets Cash $440 Inventory 1,870 2,310 2,200 Total current assets Plant and equipment Accumulated depreciation Total assets (176) 4,334
Liabilities Bonds payable (net of discount) $1,426 Stockholders' equity Common stock 1,500 Retained earnings 1,408 Total liabilities and stockholders' equity $4,334 Note X: Long Term Debt: On January 1, 2019, Bramble issued bonds with face value of $1,500 and a coupon rate equal to 10%. The bonds were issued to yield 12% and mature on January 1, 2024. Additional information concerning 2021 is as follows.
1. Sales were $3,200, all for cash. 2. Purchases were $1,900, all paid in cash. 3. Salaries were $740, all paid in cash. 4. Property, plant, and equipment was originally purchased for $2,200 and is depreciated straight-line over a 25-year life with no salvage value. 5. Ending inventory was $1,700. 6. Cash dividends of $90 were declared and paid by Bramble. 7. Ignore taxes. 8. The market rate of interest on bonds of similar risk was 12% during all of 2021. 9. Interest on the bonds is paid semiannually each June 30 and December 31.
Prepare a balance sheet for Bramble, Inc. at December 31, 2021. Assume semiannual compounding of the bond interest. (List Current Assets in order of liquidity.) BRAMBLE, INC. Balance Sheet Assets $ $
Liabilities and Stockholders' Equity $ $
LA > tA
Sales Revenue Expenses Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Interest Expense Total Expenses Net Income/(Loss) tA 2070 i 740 i 88 i 172 i +A $ 3,200 3070 130