Consider the following balance sheet data for Lily’s Home Accessories:

Cash & equivalents	$	86,500		Accounts payable	$	85,000
Accounts receivable		139,500		Notes payable		163,500
Inventories		298,500		Accruals		66,000
Total current assets	$	524,500		Total current liabilities	$	314,500
				Long-term debt		227,500
				Common stock		370,000
Net plant & equip.		559,500		Retained earnings		172,000
Total assets	$	1,084,000		Total liabilities & equity	$	1,084,000

What are the company's total liabilities?

 

Answer rating: 100% (QA)

To determine the companys total liabilities we need to look at the balance sheet ... View the full answer