Question

Problem 13-03A a (Video) Condensed balance sheet and income statement data for Flint Corporation are presented here Flint Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 32,000 22,000 20,000 52,000 93,000 58,000 500,000 47,000 98,000 73,000 370,000 50,000 67,000 48,000 358,000 $735,000 $610,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $87,000 $82,000 72,000 88,000 313,000 127,000 $735,000 $610,000 $543,000 148,000 323,000 177,000 53,000 303,000 115,000 Flint Corporation Income Statements For the Years Ended December 31 2020 2019 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income $743,000 $603,000 32,000 701,000 571,000 428,000 353,000 273,000 218,000 152,000 $91,000 66,000 42,000 182,000 Additional information:

Additional information:

1.		The market price of Flint’s common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively.
2.		You must compute dividends paid. All dividends were paid in cash.

Answer 1