The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2021. Required:
1. Determine the missing amounts.
2. Prepare Trident's classified balance sheet.
($ in 000s)
Cash and cash equivalents $245,286
Short-term investments 360,700
Accounts receivable 511,944
Inventory 456,738
Prepaid expenses (current) 90,259
Total current assets 1,664,927
Long-term receivables 117,800
Equipment (net)
Notes payable (current) 38,116
Total assets
Accounts payable
Accrued liabilities 428,772
Other current liabilities 188,604
Total current liabilities 700,564
Long-term debt
Total liabilities 1,026,140
Common stock 440,627
Retained earnings 1,000,000
TRIDENT CORPORATION
Balance Sheet ($ in 000s)
At December 31, 2021
Assets
Current assets
Total current assets
Investments
Property, plant, and equipment
Total assets
Liabilities and Shareholders' Equity
Current liabilities:
Total current liabilities
Long-term liabilities:
Total liabilities
Shareholders' equity
Total shareholders' equity
Total liabilities and shareholders' equity