Question: The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2018. Some amounts, indicated by question marks, have been
The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2018. Some amounts, indicated by question marks, have been intentionally omitted.
_________________________________________________ ($ in thousands)
Cash and cash equivalents .............................................. $239,186
Short-term investments .................................................353,700
Accounts receivable (net of allowance) ..............................504,944
Inventories ............................................................... ?
Prepaid expenses (current) ............................................. 83,259
Total current assets ...................................................... 1,594,927
Long-term receivables ..................................................110,800
Property and equipment (net) .......................................... ?
Total assets ............................................................... ?
Notes payable and short-term debt ................................... 31,116
Accounts payable ....................................................... ?
Accrued liabilities ......................................................421,772
Other current liabilities ................................................181,604
Total current liabilities ................................................693,564
Long-term debt and deferred taxes .................................. ?
Total liabilities ..........................................................956,140
Shareholders' equity ................................................... 1,370,627
Required:
1. Determine the missing amounts.
2. Prepare Trident's classified balance sheet.
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