Balance sheet: Tim Dye, the CFO of Blackwell Automotive, Inc., is putting together this year’s financial...
Balance sheet: Tim Dye, the CFO of Blackwell Automotive, Inc., is putting together this year’s financial statements. He has gathered the following balance sheet information. The firm had a cash balance of 28,493, accounts payable of 166,573, common stock of 358,833, retained earnings of 520,824, inventory of 258,388, goodwill and other assets equal to 74,801, net plant and equipment of 745,161, and short-term notes payable of 21,927. It also has accounts receivables of 146,313 and other current assets of 15,693. How much long-term debt does Blackwell Automotive have?
Homework Answers
Blackwell Automotive has 200,692 long-term debt.
| Assets | Liabilities | ||
| Cash | 28,493 | accounts payable | 166,573 |
| inventory | 258,388 | short-term notes payable | 21,927 |
| accounts receivable | 146,313 | long-term debt | 200,692 |
| other current assets | 15,693 | common stock | 358,833 |
| goodwill & other assets | 74,801 | retained earnings | 520,824 |
| net plant & equipment | 745,161 | ||
| Total Assets | 1,268,849 | Total liabilities | 1,268,849 |
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Balance sheet: Tim Dye, the CFO of Blackwell Automotive, Inc.,
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