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Summary information from the financial statements of two companies competing in the same industry follows.

		Barco Company		Kyan Company			Barco Company		Kyan Company
Data from the current year-end balance sheets					Data from the current year’s income statement
Assets					Sales	$	800,000	$	920,200
Cash	$	20,500	$	33,000	Cost of goods sold		590,100		648,500
Accounts receivable, net		36,400		53,400	Interest expense		7,600		13,000
Current notes receivable (trade)		9,700		8,000	Income tax expense		15,377		25,404
Merchandise inventory		84,240		136,500	Net income		186,923		233,296
Prepaid expenses		5,900		7,400	Basic earnings per share		4.67		5.40
Plant assets, net		290,000		307,400

Total assets	$	446,740	$	545,700

					Beginning-of-year balance sheet data
Liabilities and Equity					Accounts receivable, net	$	32,800	$	51,200
Current liabilities	$	66,340	$	99,300	Current notes receivable (trade)		0		0
Long-term notes payable		78,800		103,000	Merchandise inventory		53,600		111,400
Common stock, $5 par value		200,000		216,000	Total assets		388,000		382,500
Retained earnings		101,600		127,400	Common stock, $5 par value		200,000		216,000

Total liabilities and equity	$	446,740	$	545,700	Retained earnings		115,300		101,600

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