Last year, Tecron Industries prepared its financial statements based on the following information. The company had cash of $2,450, inventory of $18,730, and accounts receivables of $7,895. The company's net fixed assets were $53,680, and other assets were $3,540. It had accounts payable of $14,260, notes payable of $3,450, common stock of $28,500, and retained earnings of $19,875. How much long-term debt did the firm have?

Last year, Tecron Industries prepared its financial statements based on the following information. The company had cash of $2,450, inventory of $18,730, and accounts receivables of $7,895. The company's net fixed assets were $53,680, and other assets were $3,540. It had accounts payable of $14,260, notes payable of $3,450, common stock of $28,500, and retained earnings of $19,875. How much long-term debt did the firm have?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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