Question #6: Two years ago the founders of Nettleship and Sons, Inc invested a total of $500,000 into the company upon it's formation. Today the company has; Total assets Current assets Current liabilities Long-term liabilities $170,000 $70,000 $100,000 $60,000 During this time, no dividends have been paid Would you say the company has been successful during its first two years of operation? Explain Question #7: Indicate whether each of the following is an asset or a liability for your company Asset Liabilit a) You make a down payment of $25,000 for a custom software program that will be delivered and installed next year by the vendor b) You receive an invoice from a consultant for services rendered. c) You signed a 5 year agreement with a European company allowing them to second-source your product in excange for royalty payments of $100K per year d) Your board of directors has declared $4,000 of dividends, where payments of these dividends to shareholders is to be made next month (i.e. the next accounting period)