Ingram company balance sheet What’s the current assets? Current liability? Total
ID: 2820820 • Letter: I
Question
Ingram company balance sheet What’s the current assets? Current liability? Total liability? te Normal 3. The balance sheet for ingram Company is as follows (in millions of dollars): Assessment Tool Financial Management Foundations- FIN 623-UA Last Update 09/s/2018 Page 1 of 5 Ingram Company Balance Sheet As of December 31, 2017 Assets Cash Accounts receivable Inventory Goodwill $110 375 $126 $615 Sooxx $ 446 $1,000 Sooc Total Current Assets Net plant and equipment Prepaid Expenses Total Assets Liabilities and Stockholders' Equity Accounts payable Notes payable (+12 months) Accruals $160 $110 $140 Total Current Liabilities Long-term mortgage Total Liabilities Common Stock (50,000,000 shares) Retained earnings Total liabilities and stockholders' equity $950 Using the previous information, ingram Company's current assets are ..., its current liabilities are and its total liabilities and stockholders' equity are a. $1,611: $200 and $2,400 respectively. b. $2,000, $1,060 and $2.000 respectively c. $1.000: $2000 and 51,611 respectively d: none of the above.Explanation / Answer
Answer: option d. none Explanation Current Assets Cash 110 Accounts receivable 375 Inventory 126 Prepaid expenes 1000 Total Current Assets 1611 Current Liabilities: Accounts payable 160 Accruals 140 Total Current liabilities 300 Liabilities and stockholders equity: Accounts payable 160 Accruals 140 Total Current liabilities 300 Notes payable (> 12 months) 110 Long term mortgage 950 Total non-current liabilities 1060 Total Liabilities 1360 Common stock 130 Retained Earnings 910 Total Stockholders' equity 1040 Total Liabilities and stockholders equity 2400