Assets Cash and marketable securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Energy Corp. Balance Sheet as of 12/31/2018 $8,000,000 Liabilities and Stockholders' Equity Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity $ 300,000 $2,000,000 $1,250,000
Assets Cash and marketable securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Energy Corp. Balance Sheet as of 12/31/2018 $8,000,000 Liabilities and Stockholders' Equity Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity $ 300,000 $2,000,000 $1,250,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...
Related questions
Question
1. Complete the balance sheet for Energy Corp., given the following information
Additionally, the following information is provided:
- Debt ratio = 40%
- DSO = 39 days
- Costs of goods sold = $1.6875 million
- Sales = $2.25 million
- Inventory turnover ratio = 3.375
Current ratio = 1.5
![Assets
Cash and marketable
securities
Accounts receivable
Inventories
Total current assets
Net plant and equipment
Total assets
Energy Corp.
Balance Sheet as of 12/31/2018
$8,000,000
Liabilities and Stockholders'
Equity
Accounts payable
Notes payable
Total current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and
stockholders' equity
$ 300,000
$2,000,000
$1,250,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71a93994-cfe8-4bd0-bacf-87e96face337%2Fd8296913-83d4-4ffb-9da8-233b693894b3%2Fioe50p8_processed.png&w=3840&q=75)
Transcribed Image Text:Assets
Cash and marketable
securities
Accounts receivable
Inventories
Total current assets
Net plant and equipment
Total assets
Energy Corp.
Balance Sheet as of 12/31/2018
$8,000,000
Liabilities and Stockholders'
Equity
Accounts payable
Notes payable
Total current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and
stockholders' equity
$ 300,000
$2,000,000
$1,250,000
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