Arctic Cat Fashions, Inc has the following trial balance amounts (in alphabetica

Question

Arctic Cat Fashions, Inc has the following trial balance amounts (in alphabetical order) at the end of last year.

                                           (Thousands of Dollars)

Debit Credit

Accounts Payable                                              41,700

Accounts Receivable, Net 23,700

Accrued Expenses                                              44,400

Accumulated Depreciation, Equipment 184,900

Additional Paid-In Capital – Common 7,300

Cash & Cash Equivalents                       14,700

Common Stock, $1 Par                                           200

Deferred Income Taxes                          17,700

Inventories 61,500

Other Long-Term Assets 1,600

Prepaid Expenses 4,000

Property, Plant & Equipment 224,100

Retained Earnings 184,000

Short-Term Investments                        110,400

Treasury Stock – Common (25,000 Shares)4,800

Totals 462,500        462,500

Prepare the Stockholders’ Equity section of the balance sheet for the Company.

Explanation / Answer

Statement of Stock holders Equity section of the balance sheet

Particulars Amount($)

Paid in capital in common stock 7300

common stock 200

retained earnings 184000

less : treasury stock (4800)

Stockholders equity 186700.

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