... TO GIVE UP A FEW OF HIS GOLFING DAYS AND TO HELP NURSE THE COMPANY BACK TO HEALTH, WITH JAMISON'S HELP. JAMISON BEGAN BY GATHERING FINANCIAL STATEMENTS AND OTHER DATA. ASSUME THAT YOU ARE JAMISON'S ASSISTANT, AND YOU MUST HELP HER ANSWER THE FOLLOWING QUESTIONS FOR CAMPO. (NOTE: WE WILL CONTINUE WITH THIS CASE IN CHAPTER 3, AND YOU WILL FEEL MORE COMFORTABLE WITH THE ANALYSIS THERE, BUT ANSWERING THESE QUESTIONS WILL HELP PREPARE YOU FOR CHAPTER 3. PROVIDE CLEAR EXPLANATIONS, NOT JUST YES OR NO ANSWERS!) BALANCE SHEETS 2001 2000___ ASSETS CASH $ 7,282 $ 9,000 SHORT-TERM INVESTMENTS 0 48,600 ACCOUNTS RECEIVABLE 632,160 351,200 INVENTORIES 1,287,360 715,200 TOTAL CURRENT ASSETS $1,926,802 $1,124,000 GROSS FIXED ASSETS 1,202,950 491,000 LESS ACCUMULATED DEPRECIATION 263,160 146,200 NET FIXED ASSETS $ 939,790 $ 344,800 TOTAL ASSETS $2,866,592 $1,468,800 LIABILITIES AND EQUITY ACCOUNTS PAYABLE $ 524,160 $ 145,600 NOTES PAYABLE 720,000 200,000 ACCRUALS 489,600 136,000 TOTAL CURRENT LIABILITIES $1,733,760 $ 481,600 LONG-TERM DEBT 1,000,000 323,432 COMMON STOCK (100,000 SHARES) 460,000 ...

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