Brightstone Industries Inc. has the following data for the year ending December 31, 2024: Current assets: $2,500,000 Total assets: $6,000,000 Current liabilities: $1,800,000 Common equity: $2,200,000 Retained earnings: $1,500,000 Calculate the long-term debt of Brightstone Industries Inc.

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
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 11GI
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Brightstone Industries Inc. has the following data for
the year ending December 31, 2024: Current assets:
$2,500,000 Total assets: $6,000,000 Current
liabilities: $1,800,000 Common equity: $2,200,000
Retained earnings: $1,500,000
Calculate the long-term debt of Brightstone
Industries Inc.
Transcribed Image Text:Brightstone Industries Inc. has the following data for the year ending December 31, 2024: Current assets: $2,500,000 Total assets: $6,000,000 Current liabilities: $1,800,000 Common equity: $2,200,000 Retained earnings: $1,500,000 Calculate the long-term debt of Brightstone Industries Inc.
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