Question: Given the following data for the Crane Company: Current liabilities $300 Long-term debt $XXX Common Stock $600 Retained Earnings $1200 Total liabilities & stockholders equity

Given the following data for the Crane Company:

Current liabilities $300
Long-term debt $XXX
Common Stock $600
Retained Earnings $1200
Total liabilities & stockholders equity $2400

Calculate the missing amount for long-term debt.

  • A. $300

  • B. $1200

  • C. $600

  • D. None

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