Given the following information, construct the firm$?$s balance sheet:

Cash and cash equivalents $ $360,000$

Accumulated depreciation on plant and equipment $1,000,000$

Plant and equipment $4,980,000$

Accrued wages $260,000$

Long$-$term debt $4,700,000$

Inventory $5,740,000$

Accounts receivable $4,880,000$

Preferred stock $570,000$

Retained earnings $7,026,000$

Land $2,250,000$

Accounts payable $2,920,000$

Taxes due $80,000$

Common stock $ $11$ ?par

Common shares outstanding $124,000$

Current portion of long$-$term debt $ $290,000$

 

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Round your answers to the nearest dollar. Assets Cash and cash equivalents $ Accounts receivable Inventory Total current assets $ Land Plant and equipment Total assets Corporation X Balance Sheet as of XX/XX/XX Liabilities and Owners' Equity Accounts payable Taxes due Accrued wages Current portion of long-term debt Total current liabilities Long-term debt Preferred stock Common stock Retained earnings Total shareholders' equity +A +A $ Total liabilities and shareholders' equity $ Round your answers to the nearest dollar. Assets Cash and cash equivalents $ Accounts receivable Inventory Total current assets $ Land Plant and equipment Total assets Corporation X Balance Sheet as of XX/XX/XX Liabilities and Owners' Equity Accounts payable Taxes due Accrued wages Current portion of long-term debt Total current liabilities Long-term debt Preferred stock Common stock Retained earnings Total shareholders' equity +A +A $ Total liabilities and shareholders' equity $

Answer rating: 100% (QA)

To construct the firms balance sheet we need to organize the assets liabilities and owners equity As... View the full answer