Fred Corporation reports the following numbers: Operating assets $600,000 Financial assets $500,000 Total assets $1,100,000...
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Accounting
Fred Corporation reports the following numbers:
Operating assets $600,000
Financial assets $500,000
Total assets $1,100,000
Operating current liabilities $100,000
Financial liabilities $700,000
Stockholders equity $300,000
Total liabilities and equity $1,100,000
- At what number does the balance sheet balance? Or put another way what is the new asset number and the new liabilities and equity number? I know this :
Net Operating Assets =Net Financial Liability + Equity
$500,000 = $200,000 + $300,000
HOW DO I GET THE $200,000? where does that come from? and the $500,000? Please explain
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