The Balance Sheet of a Firm Shows Current Liabilities of $56,300

question 34

Multiple Choice

The balance sheet of a firm shows current liabilities of $56,300 and long-term debt of $289,200 as of last year.Current liabilities are $76,900 and long-term debt is $248,750 as of today,which is the end of the current year.The financial statements for the current year reflect an interest paid amount of $29,700 and dividends of $19,000.What is the amount of the net new borrowing?

• A)-$40,450
• B)$40,450
• C)$64,750
• D)$70,150
• E)$78,250

---

Definitions:

Ethical Responsibility

An obligation to act in ways that are morally right, fair, and beneficial to both individuals and society as a whole.

Confidentiality

The obligation to keep personal, sensitive, or specified information private and not disclose it without proper authorization.

Field Placement

Hands-on training or work experience in a real-world professional setting, often part of academic or vocational training programs.

Cardinal Values

Fundamental values that are considered primary or of paramount importance in a person's life or in a society.