Constructing Balance Sheets and Computing Working Capital The following balance sheet data are reported for Beaver, Inc., at May 31, 2019.

Accounts receivable	$18,300		Accounts payable	$5,200
Notes payable	20,000		Cash	12,200
Equipment	55,000		Common stock	42,500
Supplies	16,400		Retained earnings	?

Assume that on June 1, 2019, only the following two transactions occurred. June 1: Purchased additional equipment costing $15,000, giving $2,000 cash and a $13,000 note payable. Declared and paid a $7,000 cash dividend.

a. and b. Prepare its balance sheet at May 31, 2019 and June 1, 2019.

Beaver, Inc.
Balance Sheets
				May 31, 2019	June 1, 2019
Assets
Cash
CashAccounts receivableAccounts payableNotes payableCommon stockRetained earnings
CashCommon stockSuppliesNotes payableAccounts payableRetained earnings
Common stockNote payableAccounts payableEquipmentRetained earnings
Total assets
Liabilities
CashAccounts receivableAccounts payableCommon stockRetained earningsSupplies
Common stockRetained earningsSuppliesEquipmentNotes payableCashAccounts receivable
Total liabilities
Stockholders' Equity
Common stockAccounts receivableAccounts payableEquipmentNotes payableCashSupplies
SuppliesAccounts receivableAccounts payableEquipmentNotes payableCashRetained earnings
Total stockholders' equity
Total liabilities and stockholders' equity

c. Calculate its net working capital at June 1, 2019. (Assume that Notes Payable are noncurrent.)

$Answer

Beaver, Inc. Balance Sheets May 31, 2019 June 1, 2019 Assets Cash $ $ Cash Accounts receivable Accounts payable Notes payable Common stock Retained earnings $ ta $ TA Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity $ $