The Blossom City Ice Cream Company management has just completed an assessment of the company’s assets...

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The Blossom City Ice Cream Company management has just completedan assessment of the company’s assets and liabilities and hasobtained the following information. The firm has total currentassets worth $620,000 at book value and $500,000 at market value.In addition, its long-term assets include plant and equipmentvalued at market for $690,000, while their book value is $900,000.The company’s total current liabilities are valued at market for$540,000, while their book value is $490,000. Both the book valueand the market value of long-term debt are $350,000. If thecompany’s total assets are equal to a market value of $1,190,000(book value of $1,520,000), what are the book value and marketvalue of its stockholders’ equity? (Enter amounts in thousands.)Book value (in $ thousands) Market value (in $ thousands)Stockholders’ equity $Entry field with incorrect answer 680000$Entry field with incorrect answer 300000
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The Blossom City Ice Cream Company management has just completedan assessment of the company’s assets and liabilities and hasobtained the following information. The firm has total currentassets worth $620,000 at book value and $500,000 at market value.In addition, its long-term assets include plant and equipmentvalued at market for $690,000, while their book value is $900,000.The company’s total current liabilities are valued at market for$540,000, while their book value is $490,000. Both the book valueand the market value of long-term debt are $350,000. If thecompany’s total assets are equal to a market value of $1,190,000(book value of $1,520,000), what are the book value and marketvalue of its stockholders’ equity? (Enter amounts in thousands.)Book value (in $ thousands) Market value (in $ thousands)Stockholders’ equity $Entry field with incorrect answer 680000$Entry field with incorrect answer 300000Show Work for this question: