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The Booth Company's sales are forecasted to double from $1,000 in 2021 to $2,000 in 2022 . Here is the December 31 , 2021 ,
The Booth Company's sales are forecasted to double from $1,000 in 2021 to $2,000 in 2022 . Here is the December 31 , 2021 , balance sheet: \begin{tabular}{lrlr} Cash & $100 & Accounts payable & 50 \\ Accounts receivable & 200 & Notes payable & 150 \\ Inventories & 200 & Accruals & 50 \\ Net fixed assets & 500 & Long-term debt & 400 \\ & & Common stock & 100 \\ & Retained earnings & 250 \\ Total assets & $1,000 & Total liabilities and equity & $1,000 \\ \hline= & & & \\ \hline \end{tabular}
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