Problem 3.1Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2011. On that date the firm had cash and marketable securities of $25,135,accounts receivables of $43,758, inventory of $190,977, net fixed assets of $418,500, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454,long-term debt of $227,298, and common stock of $150,000. How much retained earnings did the firm have?Retained earningsClick if you would like to Show Work for this question: Open Show Work

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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

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Problem 3.1
Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2011. On that date the firm had cash and marketable securities of $25,135,
accounts receivables of $43,758, inventory of $190,977, net fixed assets of $418,500, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454,
long-term debt of $227,298, and common stock of $150,000. How much retained earnings did the firm have?
Retained earnings
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