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Lightspeed Industries Balance Sheet As of March 11, 2019 (amounts in thousands) Cash 14,100 Accounts Payable 1,900 Accounts Receivable 3,200 Debt 3,600 Inventory 4,900 Other
Lightspeed Industries Balance Sheet As of March 11, 2019 (amounts in thousands) | |||
---|---|---|---|
Cash | 14,100 | Accounts Payable | 1,900 |
Accounts Receivable | 3,200 | Debt | 3,600 |
Inventory | 4,900 | Other Liabilities | 2,000 |
Property Plant & Equipment | 16,300 | Total Liabilities | 7,500 |
Other Assets | 500 | Paid-In Capital | 7,200 |
Retained Earnings | 24,300 | ||
Total Equity | 31,500 | ||
Total Assets | 39,000 | Total Liabilities & Equity | 39,000 |
Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.
1. Sell, deliver, and receive payment of $20,000 for service 2. Consume good or service and pay expense of $3,000 3. Sell product for $25,000 in cash with historical cost of $20,000
What is the final amount in Total Assets?
Please specify your answer in the same units as the balance sheet.
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