Question

Balance Sheet Calculations

Fermer Company's balance sheet information at the end of 2016 and 2017 is as follows:

	2016	2017
Total shareholders' equity	$ (a)	$100,700
Accumulated other comprehensive income	4,800	5,000
Current liabilities	(b)	9,800
Intangible assets	12,600	12,000
Property, plant, and equipment (net)	(c)	87,500
Current assets	21,000	(h)
Total contributed capital	51,000	(i)
Long-term liabilities	(d)	30,200
Retained earnings	42,900	(j)
Total assets	(e)	(k)
Common stock, $10 par	(f)	(l)
Working capital	9,900	10,200
Additional paid-in capital	(g)	40,000
Long-term investments	23,700	(m)
Total liabilities	38,100	(n)

Additional information: At the end of 2016, additional paid-in capital is twice the amount of common stock. In 2017, the company issued (sold) 100 shares of common stock.

Required:

Prepare the correct balance sheet. All the necessary information is provided.

FERMER COMPANY
Balance Sheet
December 31
	2016	2017
Assets
Current assets	$	$
Long-term investments
Property, plant, and equipment (net)
Intangible assets
Total assets	$	$
Liabilities
Current liabilities	$	$
Long-term liabilities
Total liabilities	$	$
Shareholders’ Equity
Contributed Capital:
Common stock, $10 par	$	$
Additional paid-in capital
Total contributed capital	$	$
Retained earnings
Accumulated other comprehensive income
Total shareholders' equity	$	$
Total liabilities and shareholders' equity	$	$

Answer 1