Question

Use the starting balance sheet and statement of cash flows to answer the question.

Lightspeed Industries Balance Sheet As of December 31, 2018 (amounts in thousands)
Cash	141,000	Accounts Payable	19,000
Accounts Receivable	32,000	Debt	36,000
Inventory	49,000	Other Liabilities	20,000
Property Plant & Equipment, Gross	231,000	Total Liabilities	75,000
Accumulated Depreciation	68,000	Paid-In Capital	72,000
Property Plant & Equipment, Net	163,000	Retained Earnings	243,000
Other Assets	5,000	Total Equity	315,000
Total Assets	390,000	Total Liabilities & Equity	390,000

Lightspeed Industries Statement of Cash Flows January 1 to March 31, 2019 (amounts in thousands)
Net Income	9,200
Depreciation	1,500
Decrease (Increase) in Accounts Receivable	(500)
Decrease (Increase) in Inventory	400
Increase (Decrease) in Accounts Payable	700
Other Adjustments	0
Net Cash Flow from Operating Activities	11,300
Purchase of Property, Plant, & Equipment	(9,400)
Other Adjustments	0
Net Cash Flow from Investing Activities	(9,400)
Increase (Decrease) in Debt	(400)
Dividends	(800)
Other Adjustments	0
Net Cash Flow from Financing Activities	(1,200)
Net Cash Flow	700

What is the value for Total Assets on March 31, 2019?

Please specify your answer in the same units as the financial statements.

Answer 1

Answer:

Assets (Amount in thousands) Cash [141,000 + 700 net cash flow] Accounts Receivable [32,000+ 500 incrase A/R] Inventory [49,000 - 400 decrease in inventroy] Property Plant & Equipment, Gross [231,000+9,400 purchases) Accumulated Depreciation [68,000+1,500 dep. Exp.) Property Plant & Equipment, Net Other Assets Total Assets 141,700 32,500 48,600 240,400 -69,500 170,900 5,000 398,700