Business
A firm has inventory of $11,400, accounts payable of $9,800, cash of $750, net fixed assets of $13,125, long-term debt of $9,500, accounts receivable of $6,600, and total equity of $11,700. What is the common-size percentage for the inventory?
Meyer Company reported the following for its recent year of operation: From Income Statement: Depreciation Expense $1,000 Loss on the Sale of Equipment (3,000) From the comparative balance sheet: Beginning balance, equipment $12,500 Ending balance, equipment 8,000 Beginning balance, accumulated depreciation 2,000 Ending balance, accumulated depreciation 2,600No new equipment was purchased during the year. What was the selling price of the equipment?