The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2021.Required:2. Prepare Trident's classified balance sheet. ($ in 000s)Cash and cash equivalents24258,286Short-term investments373,700Accounts receivable524,944InventoryPrepaid expenses (current)Total current assets534,738103,2591,794,927Long-term receivables130,800Equipment (net)Total assets1,514,6043,440,331Notes payable (current)Accounts payableAccrued liabilitiesOther current liabilities51,11619,072441,772201,604Total current liabilitiesLong-term debtTotal liabilities713,5641,156,1401,156,140Common stockRetained earnings570,6271,000,000 The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2021.Required:1. Determine the missing amounts.2. Prepare Trident's classified balance sheet.Complete this question by entering your answers in the tabs below.Required 1Required 2Prepare Trident's classifled balance sheet. (Enter the answers In thousands of dollars.)TRIDENT CORPORATIONBalance Sheet ($ in 000s)At December 31, 2021AssetsCurrent assets:Total current assetsInvestments:Property, plant, and equipmentTotal assets24Liabilities and Shareholders' EquityCurrent liabilities:Total current liabilitiesLong-term liabilities:Total liabilities

Balance Sheet- It is a statement that shows all the obligations due to a firm, the investment of…

The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2021. Required: 1. Determine the missing amounts. 2. Prepare Trident's classified balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare Trident's classifled balance sheet. (Enter the answers in thousands of dollars.) TRIDENT CORPORATION Balance Sheet ($ in 000») At December 31, 2021 Assets Current assets: Total current assets Investments: Property, plant, and equipment Total assets $ Liabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: Total liabilities

The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2021. Required: 1. Determine the missing amounts. 2. Prepare Trident's classified balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare Trident's classifled balance sheet. (Enter the answers in thousands of dollars.) TRIDENT CORPORATION Balance Sheet ($ in 000») At December 31, 2021 Assets Current assets: Total current assets Investments: Property, plant, and equipment Total assets $ Liabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: Total liabilities

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
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