The 2018 financial statements for Quilts Supply, Inc., show total assets of $500000, total liabilities of 305000, net
Posted: Fri Jul 01, 2022 8:46 am
The 2018 financial statements for Quilts Supply, Inc., showtotal assets of $500000, total liabilities of 305000, net salesof 1250000, net income of 195000, income from operations of240000, cost of goods sold of 700000, dividends of 27000, andinterest expense of 28000. Total assets and total liabilities for2017 were 530000 and 300000, respectively. The market price pershare was $30 at the end of 2018, and there were 115000 and 150000shares of common stock outstanding