The balance sheets of Hutter Amalgamated are shown below. If the 12/31/2004 value of operations is $756 million, what is the 12/31/2004 value of equity?

Transcribed Image Text:

Balance Sheets, December 31, 2004 (Millions of Dollars) Assets Liabilities and Equity $ 20.0 Cash $ 19.0 Accounts payable Marketable securities 77.0 Notes payable 151.0 Accounts receivable Accruals 100.0 51.0 Inventories 200.0 Total curreat liabilicics $221.0 Long-rerm bonds Total current assets $397.0 190.0 Net plant and equipment 279.0 Preterred stock 76.0 Common stock (par plus PIC) 100.0 Retained carnings 89.0 Common equity Total liabilities and equity $189.0 Total assets $676.0 $676.0