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Problems3-1BALANCE SHEETThe assets of Dallas & Associates consist entirely of current assets and netplant and equipment. The firm has total assets of$2.5 million and net plant and equipment equals$2 million. It has notes payable of $150,000, long-term debt of $750,000, and total common equityof $1.5 million. The firm does have accounts payable and accruals on its balance sheet. The firmonly finances with debt and common equity, so it has no preferred stock on its balance sheet. a. What is the companys total debt? b. What is the amount of total liabilities and equity that appears on the firms balancesheet? c. What is the balance of current assets on the firms balance sheet? d. What is the balance of current liabilities on the firms balance sheet? e. What is the amount of accounts payable and accruals on its balance sheet? (Hint:Consider this as a single line item on the firms balance sheet.) f. What is the firms net working capital? g. What is the firms net operating working capital? h. What is the explanation for the difference in your answers to parts f and g"Problems3-1BALANCE SHEETThe assets of Dallas & Associates consist entirely of current assets and netplant and equipment. The firm has total assets of$2.5 million and net plant and equipment equals$2 million. It has notes payable of $150,000, long-term debt of $750,000, and total common equityof $1.5 million. The firm does have accounts payable and accruals on its balance sheet. The firmonly finances with debt and common equity, so it has no preferred stock on its balance sheet. a. What is the companys total debt? b. What is the amount of total liabilities and equity that appears on the firms balancesheet? c. What is the balance of current assets on the firms balance sheet? d. What is the balance of current liabilities on the firms balance sheet? e. What is the amount of accounts payable and accruals on its balance sheet? (Hint:Consider this as a single line item on the firms balance sheet.) f. What is the firms net working capital? g. What is the firms net operating working capital? h. What is the explanation for the difference in your answers to parts f and g"Problems3-1BALANCE SHEETThe assets of Dallas & Associates consist entirely of current assets and netplant and equipment. The firm has total assets of$2.5 million and net plant and equipment equals$2 million. It has notes payable of $150,000, long-term debt of $750,000, and total common equityof $1.5 million. The firm does have accounts payable and accruals on its balance sheet. The firmonly finances with debt and common equity, so it has no preferred stock on its balance sheet. a. What is the companys total debt? b. What is the amount of total liabilities and equity that appears on the firms balancesheet? c. What is the balance of current assets on the firms balance sheet? d. What is the balance of current liabilities on the firms balance sheet? e. What is the amount of accounts payable and accruals on its balance sheet? (Hint:Consider this as a single line item on the firms balance sheet.) f. What is the firms net working capital? g. What is the firms net operating working capital? h. What is the explanation for the difference in your answers to parts f and g

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