John Johnson, the CFO of Crane Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $23,015, accounts payable of $163,257, common stock of $312,800, retained earnings of $512,159, inventory of $212,100, goodwill and other assets equal to $78,656, net plant and equipment of $713,300, and short-term notes payable of $21,115. It also had accounts receivable of $141,258 and other current assets of $11,223. How much long-term debt does Crane Automotive have?

Problem 3.18 (Solution Video) John Johnson, the CFO of Crane Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $23,015, accounts payable of $163,257, common stock of $312,800, retained earnings of $512,159, inventory of $212,100, goodwill and other assets equal to $78,656, net plant and equipment of $713,300, and short-term notes payable of $21,115. It also had accounts receivable of $141,258 and other current assets of $11,223. How much long-term debt does Crane Automotive have? Long-term debt Click if you would like to Show Work for this question: Open Show Work