Question

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

Gulf Shipping Company Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	143,000	Accounts Payable	19,000
Accounts Receivable	41,000	Debt	32,000
Inventory	58,000	Other Liabilities	40,000
Property Plant & Equipment, Gross	210,000	Total Liabilities	91,000
Accumulated Depreciation	62,000	Paid-In Capital	77,000
Property Plant & Equipment, Net	148,000	Retained Earnings	229,000
Other Assets	7,000	Total Equity	306,000
Total Assets	397,000	Total Liabilities & Equity	397,000

Gulf Shipping Company Statement of Cash Flows January 1 to March 31, 2020 (amounts in thousands)
Net Income	6,800
Depreciation	1,300
Decrease (Increase) in Accounts Receivable	200
Decrease (Increase) in Inventory	(700)
Increase (Decrease) in Accounts Payable	500
Other Adjustments	0
Net Cash Flow from Operating Activities	8,100
Purchase of Property, Plant, & Equipment	(8,500)
Other Adjustments	0
Net Cash Flow from Investing Activities	(8,500)
Increase (Decrease) in Debt	900
Dividends	(600)
Other Adjustments	0
Net Cash Flow from Financing Activities	300
Net Cash Flow	(100)

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