Use the Balance Sheet of Michigan, Inc $\quad$ $\quad$

question 151

Essay

Use the balance sheet of Michigan, Inc. to calculate working capital for 2019 and 2018.
Michigan, Inc.
Comparative Balance Sheet
December 31,2019 and 2018
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$2019 \quad 2018$ Assets
$$\begin{array} { l l l } \text { Total Cument Assets } & \$ 200,000 & \$ 100,000 \\\text { Property, Plant, and Equipment, Net } & 550,000 & 500,000 \\\text { Other Assets } & \$ 50,000 & \$50,000 \\\text { Total Assets } & \$ 800,000 & \$ 650,000\end{array}$$ Liabilities
$$\begin{array} { l l l } \text { Total Current Liabilities } & \$ 150,000 & \$ 100,000 \\\text { Long-term Debt } & \underline { 350,000 } & \underline { 250,000 } \\\text { Total Liabilities } & \underline{500,000} & \underline { 3 5 0 , 0 0 0 }\end{array}$$ Stockholders' Equity
$\begin{array}{lll}\text { Total Stockholders' Equity } & \underline{300,000}&\underline{\$ 300,000} \\\text { Total Liabilities and Stockholders' Equity } & \$ 800,000 & \$ 650,000\end{array}$

Interpret and analyze statistical data presented in various forms.

Perform and interpret basic calculations for descriptive statistics.

Understand the representation of data through standard deviation and mean.

Analyze and solve problems involving inequalities and their applications.

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