Question 19 options:

The following information has been extracted from the financial statements of a company. Use it to answer the 7 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar.

Total Current Assets in 2016 = $100,000

Net Fixed Assets in 2016 = $600,000

Total Current Liabilities in 2016 = $50,000

Net Income in 2016 = $120,000

Common dividends in 2016= $40,000

Retained earnings in Balance Sheet 2015 = $200,000

Common Stock in 2015= $300,000

There is no other items in the stock owners section in the balance sheets of 2015 and 2016. There is no issuance of equity in 2016.

1. What is the amount for Total Assets in 2016?

2. What is amount for Total Liabilities + Equity for 2016?

3. What is the addition to retained earnings in 2016?

4. What is the amount for Retained Earnings in the Balance Sheet in 2016?

5. What is the amount for Common Stock in the Balance Sheet in 2016?

6. What is the amount for Total Common Equity in the Balance Sheet for 2016?

7. What is the amount for Long-Term Liabilities (Long-term debt + Other long-term liabilities) in the Balance Sheet in 2016?