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A scrambled list of accounts from the income statement and balance sheet of​ Belmond, Inc. is...

A scrambled list of accounts from the income statement and balance sheet of​ Belmond, Inc. is found​ here:  

Inventory 6,490

Common stock 45,000

Cash 16,550

Operating expenses 1,400

​Short-term notes payable 570

Interest expense 850

Depreciation expense 470

Sales 12,710

Accounts receivable 9,630

Accounts payable 4,770

​Long-term debt 54,610

Cost of goods sold 5,780

Buildings and equipment 121,650

Accumulated depreciation 33,790

Taxes 1,440

General and administrative expense 850

Retained earnings ​? 

a.  How much is the​ firm's net working​ capital?

b.  Complete an income statement and a balance sheet for Belmond.

c. If you were asked to respond to parts ​(a​) and (b​) as part of a training​ exercise, what could you tell your boss about the​ company's financial condition based on your​ answers?

Solutions

Expert Solution

a. Firm's Net working capital = Current assets - Current liabilities

Firm's Net working capital = 32670 - 5340

Firm's Net working capital = $27330

b.  Complete an income statement and a balance sheet for Belmond.

Provided in image above

c. If you were asked to respond to parts ​(a​) and (b​) as part of a training​ exercise, what could you tell your boss about the​company's financial condition based on your​ answers?

The company generated profit which is a good sign and firm has positive net working capital which says that the company has string financial liquidity

*Please comment if you face any difficulty and please don't forget to provide positive rating*

jeff jeffy answered 1 year ago
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