Lightspeed Industries Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 106,000 Accounts Payable...

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?

Expert Solution

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

ekkarill92 answered 3 years ago

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