YOU MUST SHOW ALL CALCULATIONS TO EARN CREDIT 2016 2017 BALANCE SHEETS: Assets:
ID: 2614555 • Letter: Y
Question
YOU MUST SHOW ALL CALCULATIONS TO EARN CREDIT 2016 2017 BALANCE SHEETS: Assets: Cash Accounts Receivable 120,000 160,000 520,000 305,000 290,000 410.000 1,355,000 510.000 1,380,000 Total Assets Liabilities and Equity: Accounts Payable Long-term Debt Common Stock 350,000 S375,000 500,000 625,000 50,000 75,000 455.000 Total Liabilities and Equity 1,355,000 1.580,000 INCOME STATEMENT: Revenue Cost of Goods Sold General and Administrative 2,275,000 515,000 Expense 120.000 Earnings Before Interest and Taxes 590,000 40.000 550,000 Pretax Net Income Net Income 383,000 What was Gannon's total current assets at the end of 2017 . What was Gannon's net working capital at the end of 2017? s What was Gannon's shareholders' equity at book value at the end of 2017? An appraiser recently valued Gannon's fixed assets at S600,000 and determined that $40,000 of their accounts receivable was noncollectible. Based on only this information and the balance sheet above, what was the market value of Gannon's shareholders equity at the end of 2017? Assuming that Gannon did not buy back or redeem any of its shares, how much new common stock did it issue in 2017?Explanation / Answer
Calculation of current assets
Calculation of working capital
Shareholders equity at book value
Market value of shareholders equity
Calculation of new share issue
Particulars amount Cash in hand 160000 Accounts receivable 620000 Inventory 290000 Total current assets 1070000Related Questions
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