PROBLEM#1 Balance Sheet Assets Cash Accounts Receivable(net...

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PROBLEM #1 Balance Sheet 2017 2016 Assets: Cash Accounts Receivable (net) Inventory Long-lived assets 42000/((32 Liabilities and Stockholders’ Equity: Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable -800 -1,000 Common stock Retained earnings Income Statement For the year ended December 31, 2017 Revenues Cost of goods sold -24,000 Depreciation expense -2,000 Interest expense -3,000 Bad debt expense -2,000 Other expense (including income taxes) Net income PROBLEM #2 ASSETS (in thousands) Fiscal year end 2017 2016 2015 Cash Marketable securities 6,560 0 0 Receivables 771,580 775,250 902,000 $10,000 $ 6,000 6,000 1,500 8,000 10,000 12,000 11,000 Less: Accumulated depreciation (4,000 ) (2,000 ) Total assets $32,000 $26,500 $ 5,000 $ 6,000 1,000 2,000 10,000 10,000 12,000 6,000 4,800 3,500 Total liabilities and stockholders’ equity $32,000 $26,500 $42,000 (9,000 ) $ 2,000 $ 875,650 $ 571,250 $ 154,230
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Inventories 1,320,150 1,254,600 1,418,500 Other current assets Total current assets 3,222,940 2,832,300 2,704,630 Property, plant & equipment 1,118,750 1,100,300 1,122,400 Intangibles 263,050 241,000 215,600 Deposits & other assets Total assets $4,789,240 $4,341,850 $4,211,530 LIABILITIES (in thousands) Fiscal year end 2017 2016 2015 Accounts payable $1,178,540 $1,061,100 $1,138,250 Current long term debt 18,100 316,500 150,900 Accrued expenses 664,100 615,900 585,400 Income taxes payable 138,900 108,400 38,200 Other current liabilities Total current liabilities 1,999,640 2,101,900 1,912,750 Long term debt 478,250 378,400 599,630
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