Question: Please make a table Solve all questions please !!!! Lonestar Corporation ended its fiscal year on September 30, 2021, with cash of $70 million, accounts

Please make a table Solve all questions please !!!!  Please make a table Solve all questions please !!!! Lonestar Corporation
ended its fiscal year on September 30, 2021, with cash of $70

Lonestar Corporation ended its fiscal year on September 30, 2021, with cash of $70 million, accounts receivable of $20 million, property and equipment of $32 million, and other long-term assets of $16 million. The company's liabilities consist of accounts payable of $39 million and long-term notes payable of $18 million. Lonestar Corporation has total stockhoiders' equity of $81 million; of this total, common stock is $25 million. Solve for the company's ending retained eamings and then prepare Lonestar Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Begin by solving for the company's ending retained earnings. (Enter your answer in millions.) Lonestar Corporation's ending retained earnings balance is million. Now prepare Lonestar Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Start with the heading and then complete the assets section of the statement. Finally, complete the liabilities and stockholders' equity section of the statement. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Lonestar Corporation ended its fiscal year on September 30,2021 , with cash of $70 million, accounts receivable of nela empty; do not select a label or enter a zero.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f