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value 50.00 points Use the following financial statements for Lake of Egypt Marina, Inc LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31,

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value 50.00 points Use the following financial statements for Lake of Egypt Marina, Inc 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 45 40 204 33 30 S Accrued wages and taxes Accounts payable Notes payable S 40 27 24 21 35 30 Total S289 S153 Total Long term debt $ 105 S 72 132 Fixed assets 163 Gross plant and equipment $ 255 S 165 Stockholders' equity Less Depreciation 69 36 Preferred stock (3 million shares) S 3 S3 15 78 Common stock and paid-in surplus (15 million shares) 15 Net plant and equipment Other long-term assets s 186 25 S 129 Retained eamings 214 18 Total S 211 147 Total S 232 S 96 Total assets s 500 S 300 Total liabilities and equity S 500 300o

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