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Author Question: Consider the balance sheet of Wilkes Industries as shown below. Wilkes has $1,200,000 in common ... (Read 59 times)

agstelzer01

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Consider the balance sheet of Wilkes Industries as shown below. Wilkes has $1,200,000 in common equity. As a result, which of the following can we state regarding Wilkes?

 

Cash

$ 150,000

Accounts payable

$ 100,000

Inventory

200,000

Accruals

100,000

Accounts receivable

250,000

Total current liabilities

200,000

Total current assets

600,000

Debt

200,000

Net fixed assets

1,000,000

Common shares

300,000

Retained earnings

900,000

Total assets

$1,600,000

Total liab. and equity

$1,600,000


25% of Wilkes’ shareholders’ equity comes from accumulated profitable earnings of prior years’ operations.


75% of Wilkes’ shareholders’ equity comes from issuing more shares.


19.75% of Wilkes’ shareholders’ equity comes from issuing more shares.


75% of Wilkes’ shareholders’ equity comes from accumulated profitable earnings of prior years’ operations..



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Marked as best answer by agstelzer01 on Aug 7, 2023

senorfranco

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Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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agstelzer01

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it


TheDev123

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Reply 3 on: Yesterday
Excellent

 

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