Cash and equivalents $ 44000Revenues 800000Notes payable 40000Long-term debt exc

Cash and equivalents $ 44000Revenues 800000Notes payable 40000Long-term debt excluding current portion 210000Accounts receivable net 48000Provision for income taxes 60000Other long-term assets 110000Interest expense 55000Deferred income tax liability 44000Retained earnings 202000Income taxes payable 37000Cost of sales 460000Inventories 36000Prepaid expenses 15000Common stock (50000 shares outstanding) 25000Property plant and equipment at cost 580000Accounts payable 43000Interest income 15000Goodwill patents and trademarks 75000Current portion of long-term debt 16000Less: accumulated depreciation 170000Selling and administrative expenses 150000Additional paid-in capital ?Prepare
in proper form the December 31 20X0 balance sheet and the 20X0 income
statement for Loring Company. Include the proper amount for additional
paid-in capital.