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Quantitative Problem Rosnan Industries 2013 and 2012 balance sheets and income statements are shown below Balance Sheets 2013 2012 $85 Cash and equivalents $100 275 Accounts receivable

Quantitative Problem: Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below Balance Sheets: 2013 2012 $85 Cash and equivalents $100 275 Accounts receivable 300 375 250 Inventories $750 $635 Total current assets Net plant and equipment 1,490 2,300 $3,050 $2,125 Total assets $85 $150 Accounts payable 50 Accruals 75 150 Notes payable 75 $375 Total current liabilities $210 290 Long-term debt 450 Common stock 1,225 1,225 400 Retained earnings 1,000 Total liabilities and equity $2,125 $3,050

 

Apr 23 2020 View more View Less

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