Problem 9-02

Given the following information, construct the firms balance sheet: Cash and cash equivalents $ 480,000 Accumulated depreciation on plant and equipment 800,000 Plant and equipment 5,250,000 Accrued wages 370,000 Long-term debt 3,160,000 Inventory 6,150,000 Accounts receivable 4,650,000 Preferred stock 380,000 Retained earnings 10,092,000 Land 1,750,000 Accounts payable 2,210,000 Taxes due 190,000 Common stock $ 9 par Common shares outstanding 92,000 Current portion of long-term debt $ 250,000 Round your answers to the nearest dollar. Corporation X Balance Sheet as of XX/XX/XX Assets Liabilities and Owners' Equity Cash and cash equivalents $ Accounts payable $ Accounts receivable Taxes due Inventory Accrued wages Total current assets $ Current portion of long-term debt $ Land Total current liabilities Plant and equipment Long-term debt Preferred stock Common stock Retained earnings Total shareholders equity Total assets $ Total liabilities and shareholders equity $