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XYZ provided the following financial information: XYZ Balance Sheet As of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $29,044 Accounts payable and
XYZ provided the following financial information: XYZ Balance Sheet As of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $29,044 Accounts payable and accruals $154,051 Accounts receivable $142,600 Short-term notes payable $21,384 Inventory $215,313 Total current liabilities $175,435 Total current assets $386,957 Long term debt $155,510 Net plant and equipment $601,828 Total liabilities $330,945 Goodwill and other assets $42,422 Common stock $312,890 Retained earnings $387,372 Total assets $1,031,207 Total liabilities and equity $1,031,207 In addition, it was reported that the firm had a net income of: $156,181 and net sales of: $4,318,620
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