Calculate the firm total assets

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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?

Reference no: EM133116030

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