BALANCE SHEET

The assets of Dallas & Associates consist entirely ofcurrent assets and net plant and equipment. The firm has totalassets of $2.5 million and net plant and equipment equals $2million. It has notes payable of $150,000, long-term debt of$751,000, and total common equity of $1.45 million. The firm doeshave accounts payable and accruals on its balance sheet. The firmonly finances with debt and common equity, so it has no preferredstock on its balance sheet.

Write out your answers completely. For example, 25 millionshould be entered as 25,000,000. Enter negative amounts, if any,with a minus sign.

1. What is the company's total debt?
     $
2. 
   
3. What is the amount of total liabilities and equity that appearson the firm's balance sheet?
   $  
4. 
   
5. What is the balance of current assets on the firm's balancesheet?
   $  
6. 
   
7. What is the balance of current liabilities on the firm'sbalance sheet?
   $  
8. 
   
9. What is the amount of accounts payable and accruals on itsbalance sheet? [Hint: Consider this as a single line item on thefirm's balance sheet.]
   $  
10. 
    
11. What is the firm's net working capital?
    $  
12. 
    
13. What is the firm's net operating working capital?
    $  
14. 
    
15. What is the monetary difference between your answers to part fand g?
    $   
    
    What does this difference indicate?
    -Select-The difference indicates Notes payable balanceThedifference indicates Accounts payable balanceThe differenceindicates Current liabilities balance