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(Review of financial statements) A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc. is found here: . a. How
(Review of financial statements)A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc. is found here:
.
a.How much is the firm's net working capital?
b.Complete an income statement and a balance sheet for Belmond.
c. If you were asked to respond to parts (a) and (b) as part of a training exercise, what could you tell your boss about the company's financial condition based on your answers?
Part 1
a.How much is the firm's net working capital?
\begin{tabular}{lr} \hline Inventory & 6,550 \\ Common stock & 45,070 \\ Cash & 16,540 \\ Operating expenses & 1,380 \\ Short-term notes payable & 560 \\ Interest expense & 900 \\ Depreciation expense & 530 \\ Sales & 12,750 \\ Accounts receivable & 9,640 \\ Accounts payable & 4,770 \\ Long-term debt & 54,860 \\ Cost of goods sold & 5,720 \\ Buildings and equipment & 122,110 \\ Accumulated depreciation & 33,880 \\ Taxes & 1,430 \\ General and administrative expense & 840 \\ Retained earnings & ? \\ \hline \end{tabular}
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