Construct a balance sheet for Galactic Enterprises given the following data: Cash balances ........................... $25,000 Inventories ................................
Question:
Construct a balance sheet for Galactic Enterprises given the following data:
Cash balances ........................... $25,000
Inventories ................................ $30,000
Net plant and equipment ..... $140,000
Accounts receivable ................ $35,000
Accounts payable .................... $24,000
Long-term debt ..................... $130,000
What is shareholders’ equity?
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0077404895
10th Edition
Authors: Richard A. Brealey, Stewart C. Myers, Franklin Allen
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