Question 78Using Financial Statements for 2018-2019. Net asset value per share of preferred stock for 2018 is $685.71. TRUE OR FALSE? **Balance Sheet and Income Statement Summary****Balance Sheet:***Assets*- **Current Assets:** - Cash: - 2019: $5,100,000 - 2018: $4,900,000 - Marketable Securities: - 2019: – - 2018: $98,000 - Accounts Receivable: - 2019: $1,632,000 - 2018: $1,568,000 - Inventories: - 2019: $2,958,000 - 2018: $2,744,000 - Total Current Assets: - 2019: $9,690,000 - 2018: $9,310,000- **Fixed Assets:** - Property, Plant & Equipment: - 2019: $3,264,000 - 2018: $3,136,000 - Other Fixed Assets: - 2019: $2,703,000 - 2018: $2,597,000 - Total Fixed Assets: - 2019: $5,733,000 - 2018: $5,733,000- **Total Assets:** - 2019: $15,657,000 - 2018: $15,043,000*Liabilities & Equity*- **Current Liabilities:** - Accounts Payable: - 2019: $1,878,840 - 2018: $1,805,160 - Notes Payable: - 2019: $1,722,270 - 2018: $1,654,730 - Accrued Expenses Payable: - 2019: $1,409,130 - 2018: $1,353,870 - Accrued Taxes Payable: - 2019: $1,252,560 - 2018: $2,103,440 - Total Current Liabilities: - 2019: $6,262,800 - 2018: $6,917,200- **Long-Term Debt:** - 201

Answered: Question 78 Using Financial Statements…

Question 78 Using Financial Statements for 2018-2019. Net asset value per share of preferred stock for 2018 is $685.71. TRUE OR FALSE?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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