Q6.20: switzer, inc. has 8 computers which have been part of the inventory for over two years. each computer cost $600 and originally retailed for $900. at the statement date, each computer has a net realizable value of $400. what value should switzer, inc., report for the computers at the end of the year?

Comparative financial statements for weller corporation, a merchandising company, for the year ending december 31 appear below. the company did not issue any new common stock during the year. a total of 800,000 shares of common stock were outstanding. the interest rate on the bonds, which were sold at their face value, was 12%. the income tax rate was 40% and the dividend per share of common stock was $0.40 this year. the market value of the company's common stock at the end of the year was $18. all of the company's sales are on account. time interest earned ratio