The following financial data for the Freemont Corporation are to be used in answering self-test problems 1–6.

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Balance Sheet ($000) Assets Liabilities & Stockholders' Equity Cash $1,500 Accounts payable $12,500 Marketable securities 2,500 Notes payable 12,500 Accounts receivable 15,000 Total current liabilities $25,000 Inventory 33,000 Long-term debt 22,000 Total current assets $52,000 Total liabilities $47,000 Fixed assets (net) 35,000 Common stock (par value) 5,000 Total assets $87,000 Contributed capital in excess of par 18,000 Retained earings 17.000 Total stockholders' equity $40,000 Total liabilities and stockholders' equity $87,000