# financial management

Using the following information, prepare a balance sheet for Midsize Corporation:

Total Current Assets
\$11,800,000
Gross Fixed Assets
\$15,000,000

Cash
?
Stockholders' Equity
\$6,450,000

Inventory
\$5,800,000
Accrued Expenses
\$600,000

Accounts payable
\$4,200,000
Notes Payable
\$3,800,000

Taxes Payable
\$200,000
Retained Earnings
?

Accrued Depreciation
\$6,800,000
Long-term Debt
\$4,750,000

Accounts Receivable
\$3,600,000
Common Stock
(\$1 par) = \$2,000,000

Marketable Securities
\$2,000,000
Capital Paid In Excess of Par
\$1,000,000

1. 1
1. posted by SraJMcGin

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