2. The following data refers to the 2022 year-end account balances for Mastermind. However, the Retained Earnings balance is as of 12/31/2021. The accounts are listed in alphabetical order. $ Accounts Payable 25,000 Accounts Receivable 8,500 Accumulated Depreciation 175,000 Cash 141,613 Common Stock 100,000 Fixed Assets (gross) 410,000 Inventory 135,000 Long Term Debt 111,000 Retained Earnings (2021) 51,992 Salary Payable 11,000 A. Prepare a classified Balance Sheet for Mastermind on Sheet 2 of your spreadsheet. Rename Sheet 2 “Balance Sheet”. Include working Excel formulas for all calculations. B. Calculate Mastermind’s Net Working Capital beneath the balance sheet.
2. The following data refers to the 2022 year-end account balances for Mastermind. However, the
$
|
Accounts Payable |
25,000 |
|
|
8,500 |
|
|
175,000 |
|
Cash |
141,613 |
|
Common Stock |
100,000 |
|
Fixed Assets (gross) |
410,000 |
|
Inventory |
135,000 |
|
Long Term Debt |
111,000 |
|
Retained Earnings (2021) |
51,992 |
Salary Payable 11,000
A. Prepare a classified
B. Calculate Mastermind’s Net
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