Question

B. Vanduard Pharmaceuticals' partial balance sheets are shown below. Vanguard issued $10,000,000 of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity.   Dollar value of common stock issued (in thousands of dollars) $10,000 Vanguard Industries December 31 Balance Sheets (in thousands of dollars) 2016 2015 Assets Cash and cash equivalents $102,805 $74,625 Short-term investments 11,400 15,100 Accounts Receivable 108,470 85,527 Inventories 38,450 34,982 Total current assets $261,125 $210,234 Net fixed assets 100,500 42,436 Total assets $361,625 $252,670 Liabilities and equity Accounts payable $30,761 $23,109 Accruals 30,405 22,656 Notes payable 12,717 14,217 Total current liabilities $73,883 $59,982 Long-term debt 80,263 63,914 Total liabilities $154,146 $123,896 Common stock $90,000 Retained earnings 38,774 Total common equity $128,774 Total liabilities and equity $252,670

Answer 1

	2016	2015
Assets
Cash and cash equivalents	$102,805	$74,625
Short-term investments	11,400	15,100
Accounts Receivable	108,470	85,527
Inventories	38,450	34,982
Total current assets	$261,125	$210,234
Net fixed assets	100,500	42,436
Total assets	$361,625	$252,670
Liabilities and equity
Accounts payable	$30,761	$23,109
Accruals	30,405	22,656
Notes payable	12,717	14,217
Total current liabilities	$73,883	$59,982
Long-term debt	80,263	63,914
Total liabilities	$154,146	$123,896
Common stock	$100,000	$90,000
Retained earnings	$107,479	38,774
Total common equity	$207,479	$128,774
Total liabilities and equity	$361,625	$252,670
Note :
1 ) total liability and equity = total asset	$361,625
2) total common equity= total liability and equity - total liability = $361,625-$154,146 = $207,749	$207,479
3) common equity= Last year equity + Fresh issue = $90000+$10000	$100,000
4) Retained earning = Total common equity- Common equity = $207,479-$100,000	$107,479