Question

In: Finance

Cash ​$30,000 Accounts receivable 63,800 Accounts payable 52,500 ​Short-term notes payable 11,000 Inventories 66,000 Gross fixed...

Cash

​$30,000

Accounts receivable

63,800

Accounts payable

52,500

​Short-term notes payable

11,000

Inventories

66,000

Gross fixed assets

1,061,000

Accumulated depreciation

86,000

​Long-term debt

210,000

Common stock

480,000

Other assets

25,000

Retained earnings

​?

Complete the part of the​ common-sized balance sheet below.  ​(Round to one decimal place.

NOTE​:

Input the Accumulated depreciation account as a negative​ value.)

Common-sized Balance Sheet

ASSETS

Cash

$

30,000

%

Accounts receivable

63,800

Inventories

66,000

Total current assets

$

159,800

%

Gross fixed assets

$

1,061,000

%

Accumulated depreciation

(86,000)

Net fixed assets

$

975,000

%

Other assets

25,000

Total assets

$

1,159,800

Solutions

Expert Solution

* reference formula = % of Cash = cash / Total assets (This formula applies to all asset items accordingly)

Please comment if you face any difficulty and please dont forget to upvote

jeff jeffy answered 2 years ago
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