Question

Use the starting balance sheet and statement of cash flows to answer the question.

Torche Corporation Balance Sheet As of December 31, 2018 (amounts in thousands)
Cash	147,000	Accounts Payable	24,000
Accounts Receivable	48,000	Debt	37,000
Inventory	38,000	Other Liabilities	50,000
Property Plant & Equipment, Gross	218,000	Total Liabilities	111,000
Accumulated Depreciation	60,000	Paid-In Capital	60,000
Property Plant & Equipment, Net	158,000	Retained Earnings	229,000
Other Assets	9,000	Total Equity	289,000
Total Assets	400,000	Total Liabilities & Equity	400,000

Torche Corporation Statement of Cash Flows January 1 to March 31, 2019 (amounts in thousands)
Net Income	8,500
Depreciation	2,000
Decrease (Increase) in Accounts Receivable	(800)
Decrease (Increase) in Inventory	(300)
Increase (Decrease) in Accounts Payable	(400)
Other Adjustments	0
Net Cash Flow from Operating Activities	9,000
Purchase of Property, Plant, & Equipment	(5,400)
Other Adjustments	0
Net Cash Flow from Investing Activities	(5,400)
Increase (Decrease) in Debt	100
Dividends	(300)
Other Adjustments	0
Net Cash Flow from Financing Activities	(200)
Net Cash Flow	3,400

What is the value for Total Liabilities & Equity on March 31, 2019?

Please specify your answer in the same units as the financial statements.

Answer 1

value for Total Liabilities & Equity on March 31, 2019 = $407900

Accounts payable (24000-400)	23600
Debt (37000+100)	37100
Other Liabilities	50000
Total liabilities	110700
Paid in capital	60000
Retained earnings (229000+8500-300)	237200
Total equity	297200
Total liabilities and equity	$407900