Please show all work.

1. Balance Sheet

a) A firm has total assets of $280000, current assets of $76,000, current liabilities of $71,000 and total liabilities of $130,000.

What is shareholders equity? What is the net working capital (NWC)? What is the value of the long-term assets? Assets = Liabilities + Stockholders Equity NWC = Current Assets Current Liabilities Total Assets = Current Assets + Long-Term Assets

b) The balance sheet of Global Mills shows cash of $41,800, accounts receivable of $190,400 and inventory of $415,700. Long-term assets have a book value of $1,521,600 which is comprised of a building and some equipment. You can sell inventory for $387,000. You expect collect only $187,000 of the accounts receivable. The equipment can be sold for $610,000 and the building for $965,000. What is the book value and market value (MV) of assets? Which is higher? Book Value of Assets=Current Assets + Long-term Assets MV of Assets= MV of current assets +MV of long-term assets