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Use the following financial statements for Lake of Egypt Marina, Ind LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2015 and 2014
Use the following financial statements for Lake of Egypt Marina, Ind LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) 2015 2014 2015 2014 Assets Current assets Liabilities and Equity Current liabilities Cash and marketable securities Accounts receivable Inventory 100 48 72 174 110 301 Accrued wages and taxes Accounts payable Notes payable $60 48 72 60 110 70 S 511 294 $240 180 237 Total Total Fixed assets Long term debt: 429 S 520 S 330 Stockholders' equity Gross plant and equipment Less: Depreciation Preferred stock (3 million shares) Common stock and paid-in surplus (24 million shares) Retained earnings $ 3S3 24 81 60 24 304 156 Net plant and equipment Other long-term assets 439 270 36 50 Total $ 489 306 Total $331 183 Total assets S 1,000 S 600 Total liabilities and equity $ 1,000 600
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