The following is the December 31, 2003 balance sheet for the Epics Corporation. - 622

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The following is the December 31, 2003 balance sheet for the Epics Corporation.

Assets Liabilities
Cash $ 70,000 Accounts Payable $ 100,000
Accounts Receivable 150,000 Notes Payable 120,000
Inventory 280,000 Bonds Payable 300,000
Total Current Assets $ 500,000 Total Liabilities $ 520,000
Plant and Equipment $1,250,000 Equity

Solution Description

. The following is the December 31, 2003 balance sheet for the Epics Corporation.

Assets Liabilities
Cash $ 70,000 Acc