Use your knowledge of balance sheets and common-size statements to fill in the m

Question

Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts: ASSETS Cash $      25,000 3.4% Accounts receivable $     125,000 Inventory 27.1% Total current assets $     350,000 Gross plant and equipment 95.0% Less: accumulated depreciation $     313,000 42.5% Net plant and equipment Total assets $     737,000 100.0% LIABILITIES Accounts payable 15.7% Notes payable $      29,000 3.9% Total current liabilities Long-term debt $     248,000 33.6% Total liabilities $     393,000 Common stock ($.01 par, 450,000 shares) $        4,500 0.6% Paid-in capital $     220,500 29.9% Retained earnings Total stockholders%u2019 equity $     344,000 46.7% Total liabilities and equity 100.0% Use your knowledge of balance sheets and common-size statements to fill in the missing dollar amounts: ASSETS Cash $      25,000 3.4% Accounts receivable $     125,000 Inventory 27.1% Total current assets $     350,000 Gross plant and equipment 95.0% Less: accumulated depreciation $     313,000 42.5% Net plant and equipment Total assets $     737,000 100.0% LIABILITIES Accounts payable 15.7% Notes payable $      29,000 3.9% Total current liabilities Long-term debt $     248,000 33.6% Total liabilities $     393,000 Common stock ($.01 par, 450,000 shares) $        4,500 0.6% Paid-in capital $     220,500 29.9% Retained earnings Total stockholders%u2019 equity $     344,000 46.7% Total liabilities and equity 100.0%

Explanation / Answer

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ASSETS

Cash 25000 3.4% Accounts receivable 125000 17.0% Inventory 200000 27.1% Total current assets 350000 47.5% Gross plant and equipment 700000 95.0% Less: accumulated depreciation 313000 42.5% Net plant and equipment 387000 52.5% Total assets 737000 100%


LIABILITIES

Accounts payable 116000 15.7% Notes payable 29000 3.9% Total current liabilities 145000 19.7% Long-term debt 248000 33.6% Total liabilities 393000 53.3% Common stock ($.01 par, 450,000 shares) 4500 0.6% Paid-in capital 220500 29.9% Retained earnings 119000 16.1% Total stockholder's equity 344000 46.7% Total liabilities and equity 737000 100%

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