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EX1-2: Below is the balance sheet of Melton Corporation for the year ended December 31, 2012: Melton Corporation Balance Sheet 31-Dec-12 In US dollars Beginning

EX1-2: Below is the balance sheet of Melton Corporation for the year ended December 31, 2012:

Melton Corporation

Balance Sheet

31-Dec-12

In US dollars

Beginning 01 Jan 2012

Ending 31 Dec 2012

ASSETS

Cash

433

388

Marketable securities

101

50

Accounts receivable, net

348

430

Inventory

218

283

Investments

595

373

Property and equipment

2,696

5,998

Acc. Depreciation

(1,000)

(1,300)

Other assets

52

1,355

Total Assets

?

?

LIABILITIES AND OWNERS EQUITY

Liabilities

Accounts payable

517

648

Income taxes payable

100

150

Dividends payable

300

200

Current portionLTD

150

200

Long-term debt

920

2,406

Deferred income taxes

202

762

Total Liabilities

?

?

Owners Equity

Common stock

?

?

Additional paid-in capital

0

1,745

Retained earnings

902

935

Treasury shares, at cost

(142)

(111)

Total Owners equity

?

?

Total Liabilities and Owners Equity

?

?

Required:

Calculate the corporations total assets at the beginning and ending year of 2012.

Calculate the corporations total liabilities at the beginning and ending year of 2012.

What were the corporations common stock at the beginning and ending year of 2012?

What were the corporations owners equity at the beginning and ending year of 2012?

What were the corporations total liabilities and owners equity at the beginning and ending year of 2012?

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