Question: Tim Dye, the CFO of Blackwell Automotive, Inc., is putting together this years financial statements. He has gathered the following information. The firm had a
Tim Dye, the CFO of Blackwell Automotive, Inc., is putting together this years financial statements. He has gathered the following information. The firm had a cash balance of $23,500, accounts payable of $160,000, common stock of $310,000, retained earnings of $550,500, inventory of $215,000, other assets equal to $75,000, net plant and equipment of $755,000, and short-term notes payable of $20,000. It also has accounts receivables of $145,250 and other current assets of $10,000. How much long-term debt does Blackwell Automotive have?
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