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A company's balance sheet as of January 1, 20X59, is as follows: Account Amount Cash $290,000 Accounts Receivable $310,000 Inventory $320,000 Prepaid Expenses $205,000 Property,
A company's balance sheet as of January 1, 20X59, is as follows:
Account | Amount |
---|---|
Cash | $290,000 |
Accounts Receivable | $310,000 |
Inventory | $320,000 |
Prepaid Expenses | $205,000 |
Property, Plant & Equipment | $2,150,000 |
Accumulated Depreciation | $390,000 |
Accounts Payable | $410,000 |
Notes Payable | $700,000 |
Common Stock | $880,000 |
Retained Earnings | $1,160,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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