Question
errard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2016, financial statements: For the Year
errard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2016, financial statements: For the Year Ended December 31, 2016: Net revenues $ 64,400 Cost of services provided 22,800 Depreciation expense 13,000 Operating income $ 28,600 Interest expense 7,600 Income tax expense 6,400 Net income $ 14,600 At December 31, 2016: Assets Cash and short-term investments $ 5,600 Accounts receivable, net 19,600 Property, plant, and equipment, net 154,800 Total assets $ 180,000 Liabilities and Stockholders Equity Accounts payable $ 3,000 Income taxes payable 3,200 Notes payable (long term) 95,000 Paid-in capital 20,000 Retained earnings 58,800 Total liabilities and stockholders equity $ 180,000 At December 31, 2015, total assets were $164,000 and total stockholders equity was $65,200. There were no changes in notes payable or paid-in capital during 2016. NEED TO CALCULATE THE AMOUNT OF TOTAL CURRENT ASSETS: CASH AND SHORT TERM INVESTMENTS? ACCOUNTS RECEIVABLE, NET? TOTAL CURRENT ASSETS? THANK YOU
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