Homework Answers
Total Assets = current assets + non current assets
Total Assets = cash + equipment + land
(Given in the problem)
= $6 + $30 + $151
= $187
Here we have a doubt why won't take common stock the reason is :
- Stocks are divided into different categories that include common stock, preferred stock, and hybrid stock.
- Keep in mind a stock equals equity.
- Here we taken common stock as an equity hence won't show in Total Assets calculations.
Hence the answer is = $187
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