Seabreeze Enterprises has current assets of $2,345,000 and total assets of $7,500,000 for the year ending December 31, 2024. It also has current liabilities of $1,200,000, common equity of $2,800,000, and retained earnings of $2,300,000. How much long-term debt does the firm have? a) $1,200,000 b) $2,500,000 c) $1,155,000 d) $2,400,000

Seabreeze Enterprises has current assets of $2,345,000 and total assets of $7,500,000 for the year ending December 31, 2024. It also has current liabilities of $1,200,000, common equity of $2,800,000, and retained earnings of $2,300,000. How much long-term debt does the firm have? a) $1,200,000 b) $2,500,000 c) $1,155,000 d) $2,400,000

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

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 12P

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