The assets of Nike Industries consist entirely of current assets and net plant and equipment. The firm has total assets of $8,400,000 and net plant and equipment of $3,200,000. The company has long-term debt of $1,800,000, and common equity of $3,600,000. The firm has no preferred stock. What is the balance of current liabilities on the firm's balance sheet?

The assets of Nike Industries consist entirely of current assets and net plant and equipment. The firm has total assets of $8,400,000 and net plant and equipment of $3,200,000. The company has long-term debt of $1,800,000, and common equity of $3,600,000. The firm has no preferred stock. What is the balance of current liabilities on the firm's balance sheet?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...

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