please help me to answer the blanks. thank you As of December 31, 2020 Coke Company reported the following items in its balance sheetCashP240,000.00Receivables520,000.00Inventory350,000.00Property & Plant3,000,000.00Equipment850,000.00Accounts payable400,000.00Short term notes payable500,000.00Long term debt1,000,000.00Weighted average of outstanding shares in 2020250,000Coke contracted with a third party appraiser to determine how much is the replacement cost of its assets. Based on the report ofthe appraiser, the property & plant has a replacement cost of 150% of its reported value. On the other hand, the equipment onlycommands replacement cost of 80%, Other assets and liabilities are fairly valued.How much is the noncurrent assets reflected in the books of Coke in 2020?How much is the book value per share?How much is the replacement value of the noncurrent assets of Coke?How much is the replacement value per share?

1. Non current asset are long term asset whose benefits will be realized over more than 1 year and…

Answered: As of December 31, 2020 Coke Company…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.4C

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