You received partial credit in the previous attempt Arastrong Company Blair Company Statement of Financial Position Cash Accounts receivable (net) $ 35,200 $ 24,000 38,000 32,000 Inventory 120,000 38,000 Property, plant, and equipment (net). Other non-current assets 150,000 420,000 87,000 312,000 Total assets $430,200 $ 826,000 Current liabilities $ 105,000 $ 49,000 Long-term debt (10%) Share capital 70,000 154,000 75,000 520,000 Contributed surplus 32,000 122,000 Retained earnings 69,200 60,000 Total liabilities and shareholders equity $430,200 $ 826,000 Statement of Earnings Sales revenue (1/3 on credit) $ 470,000 $830,000 Cost of sales (415,000) Expenses (including interest and income tax) (258,500) (159,800) (315,400) $ 99,600 $ $1,700 Net earnings Selected data from the financial statements for the previous year follows Blair Company Armstrong Company 22,000 90,000 $ 42,000 44,000 Accounts receivable (net) Inventory Long-term debt 70,000 75,000 Other data: 18 Share price year-end 30% Income tax rate Dividends declared and paid $ 5 5 38,000 15 30% $ $170,000 Help Save & View preve