Use the financial statements below to answer the questions about S&M Manufacturing’s financial position at the end of the calendar year 2010.

 

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Assets Current assets Cash Marketable securities Accounts receivable Inventories S&M Manufacturing, Inc. Balance Sheet as of December 31, 2010 ($ thousand) Total current assets Fixed assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets $ 140,000 260,000 650,000 800,000 $1,850,000 $3,780,000 1,220,000 $2,560,000 $4,410,000 Liabilities and Equity Current liabilities Accounts payable Notes payable Accruals Total current liabilities Long-term debt Bonds outstanding Bank debt (long-term) Total long-term debt Stockholders' equity Preferred stock Common stock (at par) Paid-in capital in excess of par Retained earnings Total stockholders' equity Total liabilities and equity $ 480,000 500,000 80,000 $1,060,000 $1,300,000 260,000 $1,560,000 $ 180,000 200,000 810,000 600,000 $1,790,000 $4,410,000 Assets Current assets Cash Marketable securities Accounts receivable Inventories S&M Manufacturing, Inc. Balance Sheet as of December 31, 2010 ($ thousand) Total current assets Fixed assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets $ 140,000 260,000 650,000 800,000 $1,850,000 $3,780,000 1,220,000 $2,560,000 $4,410,000 Liabilities and Equity Current liabilities Accounts payable Notes payable Accruals Total current liabilities Long-term debt Bonds outstanding Bank debt (long-term) Total long-term debt Stockholders' equity Preferred stock Common stock (at par) Paid-in capital in excess of par Retained earnings Total stockholders' equity Total liabilities and equity $ 480,000 500,000 80,000 $1,060,000 $1,300,000 260,000 $1,560,000 $ 180,000 200,000 810,000 600,000 $1,790,000 $4,410,000

Answer rating: 100% (QA)

a Cash and near cash Cash Marketable securities Cash and near cash 140000 260000 Cash and near cash ... View the full answer