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Giturdone.com is an Internet wholesaler of a variety of commercial software applications. On January 1, 2007, the company's balance sheet appeared as follows (all amounts are in thousands of dollars):
Giturdone.com
Balance Sheet
January 1, 2007
Assets
Cash
Accounts receivable
Inventory
Buildings & equipment
Accumulated depreciation
Land (for plant expansion)
Total assets
$ 4,240
6,800
15,200
16,780
(4,780)
9,000
$ 47,240
Liabilities & Stockholder's Equity
Wages payable
Capital stock (owner's investment)
Retained earnings
Total liabilities and stockholders' equity
$ 640
33,000
13,600
_______
During the first quarter of the current year (January, February, March), the following events occurred.
Required
Prepare any summary documents you believe might help management (or interested external parties) better understand the effectiveness or efficiency of the firm's first quarter transformation process. Did the company have a satisfactory first quarter?
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