Intro You've collected the following information about a company: Assets Liabilities and Equity Cash 14,000 Accounts payable 17,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 7,000 Current liabilities Inventory 30,000 Long-term debt 95,000 Current assets Total liabilities Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings Net fixed assets Total equity Total assets Total liab. & equity B Attempt 1/3 for 10 pts. Part 1 What are total assets? 167,000 Correct Total assets are the sum of current and fixed assets. Assets Liabilities and Equity Cash 14,000 Accounts payable 17,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 7,000 Current liabilities Inventory 30,000 Long-term debt 95,000 Current assets 53,000 Total liabilities Machines 34,000 Pald-in capital 20,000 Real estate 80,000 Retained earnings Net fixed assets 114,000 Total equity Total assets 167,000 Total liab. & equity Total assets = Current assets + Fixed assets = (Cash + Marketable securities + Accounts receivable + Inventory) + (Machines + Real estate) = (14,000+ 2,000 + 7,000 + 30,000) + (34,000 + 80,000) = 53,000 + 114,000 = 167,000 Bm Attempt 3/3 for Opts. Part 2 What is Total equity? 20,000 Incorrect Total equity is the difference between total assets and total liabilities. Assets Liabilities and Equity Cash 14,000 Accounts 17,000 payable Marketable 2,000 Notes payable 6,000 securities Accounts Current receivable 7,000 liabilities 23,000 Long-term Inventory 30,000 debt 95,000 Current assets 53,000 Total liabilities 118,000 Machines 34,000 Pald-in capital 20,000 Retained Real estate 80,000 earnings Net fixed 114,000 Total equity 49,000 assets Total liab. & Total assets 167,000 167,000 equity Total liabilities - Current liabilities + Long-term debt = (Accounts payable + Notes Payable) + Long-term debt = 17,000 + 6,000 + 95,000 = 23,000 + 95,000 = 118,000 Total equity = Total assets - Total liabilities = 167,000 - 118,000 = 49,000 B Attempt 1/3 for 10 pts. Part 3 What is retained earnings? 0+ decima Submit Attempt 1/3 for 10 pts. Part 4 What is Total debt? 0+ decima