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Kiwi Incorporated, headquartered in Boston, Massachusetts, designs, manufactures, and markets headphones and other audio components. The following is Kiwi's (simplified) balance sheet from a
Kiwi Incorporated, headquartered in Boston, Massachusetts, designs, manufactures, and markets headphones and other audio components. The following is Kiwi's (simplified) balance sheet from a recent fiscal year ending on June 30. KIMI, INCORPORATED CONSOLIDATED BALANCE SHEET June 30, 2022 (dollars in thousands) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets $ 15,104 11,471 18,756 2,351 25,207 72,889 Long-term investments 131,656 Property, plant, and equipment, net 20,954 Other noncurrent assets 12,768 Total assets $238,267 LIABILITIES AND STOCKHOLDERS EQUITY Current liabilities: Accounts payable $30,630 Accrued expenses 18,763 Unearned revenue 8,697 Short-term notes payable 6,486 64,576 29,523 28,267 122,366 Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equityi Common stock ($0.01 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders equity 26,212 59,686 115,901 $238,267 Assume that the following transactions (in thousands) occurred during the next fiscal year (ending on June 30, 2023)
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