Question
Acme Company Balance Sheet As of January 5, 2018 (amounts in thousands) Cash 14,300 Accounts Payable 1,900 Accounts Receivable 4,100 Debt 3,200 Inventory 5,800 Other
Acme Company Balance Sheet As of January 5, 2018 (amounts in thousands) Cash 14,300 Accounts Payable 1,900 Accounts Receivable 4,100 Debt 3,200 Inventory 5,800 Other Liabilities 4,000 Property Plant & Equipment 14,800 Total Liabilities 9,100 Other Assets 700 Paid-In Capital 7,700 Retained Earnings 22,900 Total Equity 30,600 Total Assets 39,700 Total Liabilities & Equity 39,700 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2018 1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank 3. Issue $80,000 in stock 4. Buy $16,000 worth of manufacturing supplies on credit What is the final amount in Inventory? Please specify your answer in the same units as the balance sheet.
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