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Question - Rainbow Beauty Goods just provided the following balance sheet and income statement items. Assume that the stock price is $10 per share. All data are in thousands of dollars.
Net income 400
Gross Fixed Assets 3500
Notes payable 300
Accounts Payable 500
Accumulated Depreciation 500
Accounts Receivable 600
Cash and equivalents 200
Common stock 400
Cost of goods sold 3700
Annual Depreciation 300
Preferred Stock 200
Interest expense 100
Inventories 700
Long term debt 1100
Other current liabilities 500
Retained earnings 1750
Sales 6000
Selling, general and administrative expenses 1400
Taxes 300
Total Shares Outstanding 1000
Required - Calculate the firm's Total Assets?
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