Presented below are condensed data from the financial statements of Gallo Factory for 2017 and 2016.The figures are expressed in thousands.Use this information to answer the questions that follow.
Statement A Total current assets Property, plant, and equipment (net of accumulated depreciation) Investments Other assets Total assets Total current liabilities Long-term debt Deferred income taxes and contingencies Total liabilities Total stockholders’ equity Total liabilities and stockhol ders’ equity Statement B Net sales Cost of sales Gross profit Selling, general, and administrative expenses Other income (expense) Income (loss) before income taxes Income tax expense Net income (loss) 2017$82,30963,4513033,438$149,501$33,92820,4914,174$58,593$90,908$149,5012017$209,203136,225$72,97863,895693$9,776$3,5346,2422016$80,08062,7241,0612,606$146,471$28,66825,6765,208$59,552$86,919$146,4712016$174,206114,284$59,92253,520(118)$6,284$3,388$3,896
-Required: Which statement indicates the financial position of the company? What information is provided on that statement that indicates the "financial position" of the company? Explain.
Definitions:
AIDS Death Rates
The number or proportion of deaths caused by AIDS per unit of population over a given period of time.
United States
A country in North America, comprised of 50 states, a federal district, five major self-governing territories, and various possessions.
Prevalence
Describes the proportion of a particular population found to be affected by a medical condition at a specific time.
Asthma Risk Factors
Environmental and genetic factors that increase an individual's likelihood of developing asthma, including allergens, air pollution, and family history.