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:
Stigmatized
Stigmatized refers to being marked by social disgrace or disapproval, often based on characteristics or behaviors that deviate from perceived social norms.
Social Supports
Various forms of assistance and comfort provided by friends, family, and community members that help individuals cope with stress, challenges, or crises.
ICT-enabled
Pertaining to activities or processes that are facilitated or improved through the use of Information and Communication Technologies.
Formal Economy
An economy that is taxed and monitored by the government and is included within a nation's gross national product; opposed to the informal economy.