La-Z-Boy Inc. (LZB) is one of the worlds largest manufacturer of furniture and is best known for

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La-Z-Boy Inc. (LZB) is one of the world’s largest manufacturer of furniture and is best known for its reclining chairs. The following data (in thousands) were adapted from recent financial statements:

Accounts payable ................................................  $ 62,403

Accounts receivable ...........................................    154,055

Accrued expenses payable ...............................    118,721

Accumulated depreciation ...............................    339,890

Common stock ...................................................      46,788

Cash .....................................................................    136,871

Intangible assets ................................................      93,444

Inventories .........................................................     184,841

Debt due within one year ...............................              223

Long-term debt ................................................              199

Other current assets .......................................         42,451

Other long-term assets ...................................      100,423

Other long-term liabilities ...............................        86,205

Other stockholders’ equity items ...................     286,784

Property, plant, and equipment .....................     520,772

Retained earnings ............................................     291,644

Prepare a classified balance sheet as of April 28.

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Survey Of Accounting

ISBN: 9780357132593

9th Edition

Authors: Carl S. Warren, Amanda Farmer

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