Question

please answer all, Thank you !

1. Given the following information about Sheridan Sporting Goods, Inc., construct a balance sheet for June 30, 2017. On that date the firm had cash and marketable securities of $25,135, accounts receivables of $43,758, inventory of $172,200, net fixed assets of $321,900, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $224,200, and common stock of $150,000. How much retained earnings did the firm have?

-Retained Earnings:

2. Blossom Electronics reported the following information at its annual meetings: The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of $7,100,000, accounts receivables of $3,450,000, short-term notes payable worth $1,100,000, and other current assets of $121,455. What is the company's net working capital?
   

-Net working capital:

3. Pharoah Bottling Company reported the following information at the end of the year. Total current assets are worth $237,513 at book value and $215,500 at market value. In addition, plant and equipment have a market value of $343,222 and a book value of $397,000. The company's total current liabilities are valued at market for $134,889 and have a book value of $129,175. Both the book value and the market value of long-term debt are $144,000. If the company's total assets have a market value of $558,722 and a book value of $634,513, what is the difference between the book value and market value of its stockholders' equity?

-Change in value of equity:

Answer 1

Answer to Question 1:

Total Assets = Cash and Marketable Securities + Accounts Receivable + Inventory + Net Fixed Assets + Other Assets
Total Assets = $25,135 + $43,758 + $172,200 + $321,900 + $13,125
Total Assets = $576,118

Total Liabilities = Accounts Payable + Notes Payable + Long-term Debt
Total Liabilities = $67,855 + $36,454 + $224,200
Total Liabilities = $328,509

Total Equity = Total Assets - Total Liabilities
Total Equity = $576,118 - $328,509
Total Equity = $247,609

Total Equity = Common Stock + Retained Earnings
$247,609 = $150,000 + Retained Earnings
Retained Earnings = $97,609

Answer to Question 2:

Current Assets = Cash and Marketable Securities + Accounts Receivable + Inventory + Other Current Assets
Current Assets = $1,235,455 + $3,450,000 + $7,100,000 + $121,455
Current Assets = $11,906,910

Current Liabilities = Accounts Payable + Short-term Notes Payable
Current Liabilities = $4,159,357 + $1,100,000
Current Liabilities = $5,259,357

Net Working Capital = Current Assets - Current Liabilities
Net Working Capital = $11,906,910 - $5,259,357
Net Working Capital = $6,647,553