Question
Riley Inc reports the following amounts at the end of the year (all amounts in $000): In addition, the company had common stock of $42,000
Riley Inc reports the following amounts at the end of the year (all amounts in $000):
In addition, the company had common stock of $42,000 at the beginning of the year and issued an additional $3,500 during the year. The company also had retained earnings of $28,700 at the beginning of the year and declared dividends of $1,500 during the year.
1) Calculate the Net Income (or Net Loss) After Interest and Taxes
2) Calculate the Total Amount of Current Assets
3) Calculate the Total Amount of Current Liabilities
4) Calculate the Total Assets
5) What is the total amount of the stockholders equity
6) what is the amount of Long-Term Liabilities?
Cash $28,784 Depreciation Expense $4,100 Taxes Payable $712 Mortgage Payable $43,500 Land $62,000 Treasury Stock $2,210 Sales Discounts and $1,258 Returns Accounts Receivable $5,292 Supplies Expenses $355 Bonds Payable $38,000 $17,250 $780 Equipment $32,600 $2,900 $11,000 Accumulated Depreciation Interest Expense Current Portion of Bonds Payable Income Tax Expense Notes Payable Current Portion of Mortgage Payable Cost of Goods $31.500 $6,200 $2,350 Sold Product Sales (Gross) $66,145 Utilities Expense $950 Inventory $12,500 Discount of Bonds Payable $970 Salaries Expense $12,000 Revenues from Software Licenses $1,050 Buildings $52,000 Goodwill $350 $5,340 $7,200 $412 $3,450 Sales Expenses Accounts Payable Salaries Payable Prepaid Expenses $5,340 $1,100 Advertising Expenses Marketable Securities Deferred Revenues Current Portion Notes Payable $670 Interest Payable $710 Dividends Payable $500 1,100Step by Step Solution
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