A Balance Sheet Shows Beginning Values of $56,300 for Current

question 6

Multiple Choice

A balance sheet shows beginning values of $56,300 for current liabilities and$289,200 for long-term debt.The ending values are $61,900 and $318,400, respectively.The income statement shows interest paid of $29,700 and dividends of $19,000.What is the amount of the net new borrowing?

• A)$29,200
• B)$40,450
• C)$34,800
• D)$70,150
• E)$58,900

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