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Referring to the balance sheet and extra information, what is the value of the total assets?

Referring to the balance sheet and extra information, what is the value of the total assets?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Referring to the balance sheet and extra information, what is the value of the total assets?
Round the answer to the nearest dollar

Extra Information Sales $35,600 Debt Ratio 0.26 Average Collection 34 Period (days) Current Ratio 3.5 Days per year 365
Transcribed Image Text:Extra Information Sales $35,600 Debt Ratio 0.26 Average Collection 34 Period (days) Current Ratio 3.5 Days per year 365
Year-End Balance Sheet 2020 2020 Cash Accounts Receivable 7,204 Accounts Payable 4612 3,428 Notes Payable ??? Accrued Expenses Inventory Prepaid Rent Total Current Assets 11,109 ??? ??? Total Current 23,150 8,311 Liabilities Net fixed assets ??? Long-term debt 12,584 Common stock ??? Retained Earnings ??? Total Assets Total Liab. & S. Equity ??? ???
Transcribed Image Text:Year-End Balance Sheet 2020 2020 Cash Accounts Receivable 7,204 Accounts Payable 4612 3,428 Notes Payable ??? Accrued Expenses Inventory Prepaid Rent Total Current Assets 11,109 ??? ??? Total Current 23,150 8,311 Liabilities Net fixed assets ??? Long-term debt 12,584 Common stock ??? Retained Earnings ??? Total Assets Total Liab. & S. Equity ??? ???
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