Question

A scrambled list of accounts from the income statement and balance sheet of Belmond, Inc. is as follows:
Inventory ................ $ 6,500
Common stock .............. 45,000
Cash .................. 16,550
Operating expenses ............. 1,350
Short-term notes payable .......... 600
Interest expense ............... 900
Depreciation expense ............. 500
Sales .................. 12,800
Accounts receivable ............ 9,600
Accounts payable ............. 4,800
Long-term debt ............... 55,000
Cost of goods sold ............. 5,750
Buildings and equipment .......... 122,000
Accumulated depreciation ........... 34,000
Taxes ................... 1,440
General and administrative expense ....... 850
Retained earnings .............. ?
a. How much is the firm’s net working capital?
b. Complete an income statement and a balance sheet for Belmond.
c. If you were asked to respond to complete parts a. and b. as part of a training exercise, what could you tell your boss about the company’s financial condition based on your answers?



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  • CreatedOctober 31, 2014
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