Question

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 Determine the missing amounts. (Enter the answers in thousands of dollars.) ($ in 000s) $ 252,286 367,700 518,944 97,259 1,734,927 124,800 Cash and cash equivalents Short-term investments Accounts receivable Inventory Prepaid expenses (current) Total current assets Long-term receivables Equipment (net) Total assets Notes payable (current) Accounts payable Accrued liabilities Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock Retained earnings 45,116 435,772 195,604 707,564 1,096, 140 510,627 1,000,000

Answer 1

Cash and Cash Equivalents	$252,286
Short Term Investment	$367,700
Accounts Receivable (Net Allowance )	$518,944
Inventories	$498,738
Prepaid Expenses (Current )	$97,259
Total Current Asset	$1,734,927
Long Term Receivables	$124,800
Equipment (Net)	$747,040
Total Asset	$2,606,767
Note Payable (Current )	$45,116
Accounts Payable	$31,072
Accrued Liabilities	$435,772
Other Current Liabilities	$195,604
Total Current Liabilities	$707,564
Long Term Debt	$388,576
Total Liabilities	$1,096,140
Common Stock	$510,627
Retained Earnings	$1,000,000

Explanation;

1. Inventories ;

Current Asset - Cash and Cash Equivalents - Short-term Investments - Accounts Receivable - Prepaid Expense

$1,734,927 - $252,286 - $367,700 - $518,944 - $97,259 = $498,738

2. Total Asset

Total Liabilities + Shareholders Equity

$1096,140 + $1510,627 = $2,606,767

3 . Equipment

Total Asset - Current Asset - Long Term Receivable

$2,606,767 - $1,734,927 - $124,800 = $747,040

4. Accounts Payable

Total Current Liabilities - Note Payable - Accrued Liabilities - Other Current Liabilities

$707,564 -$45,116- $435,772 -$ 195,604 = $31,072

5. Long Term debt and deferred taxes

Total Liabilities - Current Liabilities

=$1,096,140 - $706,564 = $388,576

2. Trident Corporation Balancesheet ($ in 000s) At December 31,2021

Assets	Amount
Current Asset ;
Cash and Cash Equivalents	$252,286
Short-term Investment	$367,700
Accounts Receivable Net of allowance	$518,944
Inventories	$498,738
Prepaid Expense	$97,259
Total Current Asset	$1,734,927
Investment;
Long term Receivable	$124,800
Equipment	$747,040
Total Assets	$2,606,767
Liabilities and Stockholders Equity
Note Payable	$45,116
Accounts Payable	$31,072
Accrued Liabilities	$435,772
Other Current Liabilities	$195,604
Total Current Liabilities	$707,564
Long Term debt and deferred taxes	$388,576
Total Liabilities	$1096,140
Common Stock	$510,627
Retained Earnings	$1,000,000
Total Liabilities and Stockholders Equity	$2,606,767