1. What was Gannons total current assets at the end of 2017?

2. What was Gannons net working capital at the end of 2017?

3. What was Gannons shareholders equity at book value at the end of 2017?

4. An appraiser recently valued Gannons fixed assets at $600,000 and determined that $40,000 of their accounts receivable was noncollectible. Based on onlythis information and the balance sheet above, what was the market value of Gannons shareholders equity at the end of 2017?

5. Assuming that Gannon did not buy back or redeem any of its shares, how much new common stock did it issue in 2017?

YOU MUST SHOW ALL CALCULATIONS TO EARN CREDIT 2016 2017 BALANCE SHEETS: Assets: Cash Accounts Receivable Inventory Fixed Assets, net Total Assets 120,000 520,000 305,000 410,000 1,355,000 160,000 620,000 290,000 510,000 1,580,000 Liabilities and Equity: Accounts Payable Long-term Debt Common Stock Retained Earnin Total Liabilities and Equity 350,000 500,000 50,000 455,000 1,355,000 S375,000 625,000 75,000 505,000 1,580,000 INCOME STATEMENT: Revenue Cost of Goods Sold General and Administrative 3,500,000 2,275,000 515,000 120,000 590,000 40,000 550,000 167,000 383,000 iation Expense Earnings Before Interest and Taxes Interest Expense Pretax Net Income Income Taxes Net Income