Question
Amounts of the assets and liabilities of Alan Sanders Realty Company, as of August 31, 2016, are given as follows. Also included are revenue, expense,
Amounts of the assets and liabilities of Alan Sanders Realty Company, as of August 31, 2016, are given as follows. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (amounts in millions):
Total revenue 23.3, Receivables 0.7, Current liabilities, 2.3, Common Stock 22.7, Interest expense 0.1, Long term liabilities 102.3, investment assets-long term 135.3, property and equipment 1.2, other expenses 5.1, retained earnings-beginning 16.1, retained earnings-ending ???, cash 1.5, other assets-long term 9.1.
The worksheet has a total of nine fields available, the first three are for assets, the fourth is Total Current assets as shown below:
Field one - ? CASH 1.5
Field two - ? Receivables .7
Field three - ? Property and equipment 1.2
Field four - Total Current assets
Field five - Current Liabilities - 2.3
Field six - ???
Field seven - Common Stock 22.7
Field eight - Retained earnings ???
Field nine - Total liabilities and stockholders equity ????
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