Sybarix Group prepared its financial statements for 2015 based on the information below. The company had cash of $1,206, inventory of $14,290, and accounts receivables of $6,589. The company's net fixed assets were $42,412, and other assets were $2,822. It had accounts payable of $11,580, notes payable of $2,886, common stock of $21,800, and retained earnings of $14,368. How much long-term debt did the firm have? a. $12,314 b. $16,685 c. $18,334 d. $22,342

Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 17E
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Sybarix Group prepared its financial statements
for 2015 based on the information below. The
company had cash of $1,206, inventory of
$14,290, and accounts receivables of $6,589.
The company's net fixed assets were $42,412,
and other assets were $2,822. It had accounts
payable of $11,580, notes payable of $2,886,
common stock of $21,800, and retained earnings
of $14,368. How much long-term debt did the
firm have?
a. $12,314
b. $16,685
c. $18,334
d. $22,342
Transcribed Image Text:Sybarix Group prepared its financial statements for 2015 based on the information below. The company had cash of $1,206, inventory of $14,290, and accounts receivables of $6,589. The company's net fixed assets were $42,412, and other assets were $2,822. It had accounts payable of $11,580, notes payable of $2,886, common stock of $21,800, and retained earnings of $14,368. How much long-term debt did the firm have? a. $12,314 b. $16,685 c. $18,334 d. $22,342
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