CalcTech has $1.3M in current assets and $550,000 in fixed assets less $200,000 in accumulated depreciation. The firm’s current liabilities total $180,000, and the long-term liabilities $205,000. (a) What is the firm’s equity? (b) If the firm’s stock and capital surplus total $202,000, what is the value for retained earnings?

CalcTech has $1.3M in current assets and $550,000 in fixed assets less $200,000 in accumulated depreciation. The firm’s current liabilities total $180,000, and the long-term liabilities $205,000. (a) What is the firm’s equity? (b) If the firm’s stock and capital surplus total $202,000, what is the value for retained earnings?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

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