Constructing Balance Sheets and Computing Working Capital

The following balance sheet data are reported for Beaver, Inc., at May $31.$

Accounts receivable $$22,875$ Accounts payable $$6,500$

Notes payable $25,000$ Cash $15,250$

Equipment $68,750$ Common stock $53,125$

Supplies $20,500$ Retained earnings $?$

Assume that on June $1,$ only the following two transactions occurred.

June $1$ Purchased additional equipment costing $$18,750,$ giving $$2,500$ cash and a $$16,250$ note payable.

Declared and paid a $$8,750$ cash dividend.

a$.$ and b$.$ Prepare its balance sheet at May $31$ and June $1.$

Beaver, Inc.

Balance Sheets

May $31$ June $1$

Assets

Cash Answer $1$

Answer $2$

Answer $3$

Answer $4$

Answer $5$

Answer $6$

Answer $7$

Answer $8$

Answer $9$

Answer $10$

Answer $11$

Total assets Answer $12$

Answer $13$

Liabilities

Answer $14$

Answer $15$

Answer $16$

Answer $17$

Answer $18$

Answer $19$

Total liabilities Answer $20$

Answer $21$

Stockholders' Equity

Answer $22$

Answer $23$

Answer $24$

Answer $25$

Answer $26$

Answer $27$

Total stockholders' equity Answer $28$

Answer $29$

Total liabilities and stockholders' equity Answer $30$

Answer $31$

c$.$ Calculate its net working capital at June $1.($Assume that Notes Payable are noncurrent.$)$