12:16 SmartBook Chapter 12 Question Completion Status: QUESTIONS 10 points Save Answer How about some math? The purpose of the balance sheet calculations is to reinforce how the variables are related. In these types of problems, you will be given some information about the balance sheet and will need to find the missing piece. (See Chpater 3 Videos for Steps) Consider a firm with Total Assets of $5,698, Cash and Equivalents of $365, Inventories of $838 and Net Fixed Assets of $1,725. What is the firm's Accounts Receivable? You answer should be in dollars (example: $300 or 300 are both acceptable) Do not round empirical work until the answer On your own... think about how you might find the firm's current assets given the information in this problem QUESTION 7 10 points Save Answer How about some more balance sheet math? Consider a firm with Total Liabilities of $6.021, total current liabilities of $241, (notes payable of $357-end acertals of 61,961). The firm also has Accounts Payable. What is the firm's Total Long Term Liabilities? You answer should be in dollars (example: $300 or 300 are both acceptable) On your own... think about how the firm's Total Liabilites is different than the firm's Total Debt See Section 3-2A for details on this comparison Announcement: This question includes conflicting information (crossed out), which cannot be corrected since the question is locked. All students will receive Click Save and Submit to save and submit. Click Save Al Answers to save all answers Save All Answers Save and Submit