Question

would like help wit understanding what numbers are used for the problems.

The condensed financial statements of Ness Company for the years 2019 and 2020 are presented Ness Company Balance Sheets December 31 (in thousands) 2020 2019 $330 $390 430 440 440 400 150 180 1,400 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Investments Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity--common Total liabilities and stockholders' equity 1,360 430 400 1 10 530 560 $2,321 $820 $2,370 $780 600 511 990 990 $2,321 $2,370 Ness Company Income Statements For the Years Ended December 31 (in thousands) 2020 2019 Sales revenue $3,880 $3,400 Costs and expenses Cost of goods sold 970 880 Selling administrative expenses 2,370 2,350 Interest expense 20

Answer 1