1. What was Gannon’s total current assets at the end of 2017?
2. What was Gannon’s net working capital at the end of 2017?
3. What was Gannon’s shareholders’ equity at book value at the end of 2017?
4. An appraiser recently valued Gannon’s fixed assets at $600,000 and determined that $40,000 of their accounts receivable was noncollectible. Based on onlythis information and the balance sheet above, what was the market value of Gannon’s shareholders’ equity at the end of 2017?
5. Assuming that Gannon did not buy back or redeem any of its shares, how much new common stock did it issue in 2017?
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1. What was Gannon’s total current assets at the end of
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Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory Total $ 24,046 12,448 25,392 $...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory Total $ 24,046 12,448 25,392 $ 61,886 $ 24, 255 15,235 27,155 $ 66,645 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 23, 184 Notes payable 12,000 Other 11,571 藍译此页 Total $ 46,755 Long-term debt $ 80,000 Owners' equity Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $ 259,826 Total liabilities and owners' equity $386,581 $ 27,420 10,800 15,553 $ 53, 773 $ 95,000 Fixed...
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