8) Problem 3-1 on page 90 of the text book - Balance Sheet of Dallas & Associates: The assets of Dallas & Associates consist entirely of current assets and net plant and equipment The firm has total assets of $2.5 million and net plant and equipment equals $2 million. It has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1.5 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finance with debt and common equity, so it has no preferred stock on its balance sheet. a) What is the total debt on the balance sheet? b) What is the amount of total liabilities and equity on the balance sheet? c) How much current assets are on the balance sheet? d) How much current liabilities are on the balance sheet? e) How much accounts payable plus accruals are on the balance sheet? {Hint: Consider this as a single item on the balance sheet.) 1) What is the firm's net working capital? g) What is the firm's net operating working capital