BlueSky Corp. has $1.5 million in current assets and $700,000 in fixed assets, less $250,000 in accumulated depreciation. The firm's current liabilities total $350,000, and long-term liabilities total $450,000. What is the firm's equity? a) $1,150,000 b) $1,450,000 c) $1,250,000 d) $1,050,000

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...
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BlueSky Corp. has $1.5 million in current
assets and $700,000 in fixed assets, less
$250,000 in accumulated depreciation. The
firm's current liabilities total $350,000, and
long-term liabilities total $450,000.
What is the firm's equity?
a) $1,150,000
b) $1,450,000
c) $1,250,000
d) $1,050,000
Transcribed Image Text:BlueSky Corp. has $1.5 million in current assets and $700,000 in fixed assets, less $250,000 in accumulated depreciation. The firm's current liabilities total $350,000, and long-term liabilities total $450,000. What is the firm's equity? a) $1,150,000 b) $1,450,000 c) $1,250,000 d) $1,050,000
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