Question
A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc. is found here: . Inventory 6,460 Common stock 44,950 Cash
A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc. is found here:
.
Inventory | 6,460 |
---|---|
Common stock | 44,950 |
Cash | 16,580 |
Operating expenses | 1,350 |
Short-term notes payable | 630 |
Interest expense | 850 |
Depreciation expense | 450 |
Sales | 12,710 |
Accounts receivable | 9,560 |
Accounts payable | 4,760 |
Long-term debt | 55,420 |
Cost of goods sold | 5,740 |
Buildings and equipment | 122,330 |
Accumulated depreciation | 33,580 |
Taxes | 1,490 |
General and administrative expense | 880 |
Retained earnings | ? |
a.How much is the firm's net working capital?
b.Complete an income statement and a balance sheet for Belmond.
c. If you were asked to respond to parts
(a)
and
(b)
as part of a training exercise, what could you tell your boss about the company's financial condition based on your answers?
a.How much is the firm's net working capital?
The firm's net working capital is
$ (Round to the nearest dollar.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started