FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1. How much was this businesses inventory sold for in the year ended December 31, 2022?
2. On the december 31, 2022 balance sheet , this businesses beginning inventory balance was more than its ending inventory balance. True or false?
Transcribed Image Text:Assets
Current assets:
Cash and cash equivalents
Accounts receivable, net
Inventory
Prepaid expenses and other current assets
Income tax receivable
Investments
Total current assets
Leasehold improvements, property and equipment, net
Long-term investments
Restricted cash
Operating lease assets
Other assets
Goodwill
Total assets
Liabilities and shareholders' equity
Current liabilities:
Accounts payable
Accrued payroll and benefits
Accrued liabilities
Unearned revenue
Current operating lease liabilities
Total current liabilities
Commitments and contingencies (Note 11)
Long-term operating lease liabilities
Deferred income tax liabilities:
Other liabilities
Total liabilities
Shareholders' equity:
Preferred stock, $0.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2022 and
December 31, 2021, respectively
Common stock, 50.01 par value, 230,000 shares authorized, 37,320 and 37,132 shares issued as of December
31, 2022 and December 31, 2021, respectively
Additional paid-in capital
Treasury stock, at cost, 9,693 and 9,052 common shares as of December 31, 2022 and December 31, 2021,
respectively
Accumulated other comprehensive loss
Retained earnings
Total shareholders' equity
Total liabilities and shareholders' equity
2022
December 31,
384,000 $
106,880
35,668
86,412
47,741
515,136
1,175,837
1,951,147
388,055
24,966
3,302,402
63,158
21,939
6,927,504
184,566
170,456
147,539
183,071
236,248
921,880
3,495,162
98,623
43,816
4,559,481
373
1,829,304
(4,282,014)
(7,888)
$
4,828,248
2,368,023
6,927,504 $
2021
815,374
99,599
32,826
78,756
94,064
260,945
1,381,564
1,769,278
274,311
30,856
3,118,2941
56,716
21,939
6,652,958
163,161
162,405
173,052
156,351
218,713
873,682
3,301,601
141,765
38,536
4,355,584
371
1,729,312
(3,356,102)
(5,354)
3,929,147
2,297,374
6,652,958
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