Question

Lightspeed Industries Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	106,000	Accounts Payable	26,000
Accounts Receivable	32,000	Debt	30,000
Inventory	41,000	Other Liabilities	7,000
Property Plant & Equipment, Gross	212,000	Total Liabilities	63,000
Accumulated Depreciation	72,000	Paid-In Capital	80,000
Property Plant & Equipment, Net	140,000	Retained Earnings	246,000
Other Assets	70,000	Total Equity	326,000
Total Assets	389,000	Total Liabilities & Equity	389,000

Lightspeed Industries Statement of Cash Flows January 1 to March 31, 2020 (amounts in thousands)
Net Income	6,200
Depreciation	1,300
Decrease (Increase) in Accounts Receivable	800
Decrease (Increase) in Inventory	(200)
Increase (Decrease) in Accounts Payable	(500)
Other Adjustments	0
Net Cash Flow from Operating Activities	7,600
Purchase of Property, Plant, & Equipment	(9,000)
Other Adjustments	0
Net Cash Flow from Investing Activities	(9,000)
Increase (Decrease) in Debt	700
Dividends	(400)
Other Adjustments	0
Net Cash Flow from Financing Activities	300
Net Cash Flow	(1,100)

What is the value for Total Liabilities & Equity on March 31, 2020?

Answer 1

A.Computation of Value of Liabilities and Total Equity as on 31.3.2020
Year 2019 Liability side of balance sheet	2020 Adjustments	Liability balance as on 31.03.2020
Account Payable	26,000.00	-500	25,500.00
Debt	30,000.00	700	30,700.00
Other Liabilities	7,000.00		7,000.00
Total Liabilities	63,000.00		63,200.00
Paid in Capital	80,000.00		80,000.00
Retained Earnings	2,46,000.00	5800	2,51,800.00
Total Equity	3,26,000.00		3,31,800.00
Total Equity & Liabilities	3,89,000.00		3,95,000.00