Question

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

Stuart Company Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	84,000	Accounts Payable	28,000
Accounts Receivable	47,000	Debt	34,000
Inventory	42,000	Other Liabilities	9,000
Property Plant & Equipment, Gross	243,000	Total Liabilities	71,000
Accumulated Depreciation	71,000	Paid-In Capital	67,000
Property Plant & Equipment, Net	172,000	Retained Earnings	235,000
Other Assets	28,000	Total Equity	302,000
Total Assets	373,000	Total Liabilities & Equity	373,000

Stuart Company Statement of Cash Flows January 1 to March 31, 2020 (amounts in thousands)
Net Income	7,700
Depreciation	1,700
Decrease (Increase) in Accounts Receivable	300
Decrease (Increase) in Inventory	(800)
Increase (Decrease) in Accounts Payable	(900)
Other Adjustments	0
Net Cash Flow from Operating Activities	8,000
Purchase of Property, Plant, & Equipment	(7,500)
Other Adjustments	0
Net Cash Flow from Investing Activities	(7,500)
Increase (Decrease) in Debt	(600)
Dividends	(800)
Other Adjustments	0
Net Cash Flow from Financing Activities	(1,400)
Net Cash Flow	(900)

What is the value for Total Liabilities & Equity on March 31, 2020?

Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet).

Answer 1

STUART COMPANY

VALUE FOR TOTAL LIABILITIES & EQUITY ON MARCH 31,2020

Particulars	Computation	$ in thousands
Accounts Payable	$28,000 - $900	27,100
Debt	$34,000 - $600	33,400
Other Liabilities	-	9,000
Total Liabilities		69,500
Paid-In Capital		67,000
Retained Earnings	Refer Note	241,900
Total Equity		308900
Total Liabilities & Equity		378,400

Note:

Particulars	$ in thousands
Beginning Retained Earnings	235,000
Add: Net Income	7,700
Less: Dividends	800
Ending Retained Earnings	241,900

All the best...