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11. Refer to the information regarding Tessco Technologies. What is the total cost of all the property and equipment Tessco has in service at 3/29/18?

11. Refer to the information regarding Tessco Technologies. What is the total cost of all the property and equipment Tessco has in service at 3/29/18?

Tessco Technologies Balance Sheet

As of

March 29, 2018

ASSETS:

CURRENT ASSETS:

Cash and marketable securities

$4,459

Trade accounts receivable

15,757

Product inventory

18,872

Deferred tax asset

524

Prepaid expenses and other current assets

1,609

Total current assets

41,221

PROPERTY AND EQUIPMENT:

Land

2,186

Building and improvements

8,577

Information technology equipment and software

3,714

Equipment and furniture

4,821

Tooling

340

Less-accumulated depreciation and amortization

4,883

Property and equipment, net

14,755

GOODWIILL

3,950

TOTAL ASSETS:

$59,926

LIABILITIES:

CURRENT LIABILITIES:

Trade accounts payable

$16,394

Accrued expenses and other current liabilities

2,363

Current portion of long-term debt

294

Total current liabilities

19,051

DEFERRED TAX LIABILITY

42

LONG-TERM DEBT, net of current portion

7,441

TOTAL LIABILITIES

26,534

SHAREHOLDERS EQUITY:

Common stock, $0.01 par value,

4,343,608 shares outstanding as of March 28, 1997

47

Additional paid-in capital

20,242

Treasury stock, at cost, 261,572 shares

(2,844)

Retained earnings

15,947

TOTAL SHAREHOLDERS' EQUITY

33,392

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$59,926

Tessco Technologies Statement of Income

For the Fiscal Year Ended

March 29, 2018

Revenues

$131,658

Cost of goods sold

95,859

Gross profit

35,799

Selling, general and administrative expenses

29,662

Income from operations

6,137

Interest income (expense), net

(713)

Income before provision for income taxes

5,424

Provision for income taxes

2,049

Net income

$3,375

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