Balance Sheet Glen's Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are

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Balance Sheet Glen's Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are financed with debt of which $28.9 million is current liabilities. The firm has no preferred stock but the balance in com- mon stock and paid-in surplus is $20.4 million. Using this information, what is the balance for long-term debt and retained earnings on Glen's Tobacco Shop's balance sheet? (LG1)

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Finance Applications And Theory

ISBN: 9780073530673

2nd Edition

Authors: Marcia Cornett, Troy Adair, John Nofsinger

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