Marin Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion:
Marin Company Balance Sheet For the Year Ended 2025
Current assets:
Cash: $241,500
Accounts receivable (net): $351,500
Inventory (lower-of-cost-or-net realizable value)
Equity investments (to be sold in the next year - at cost, fair value $131,500)
Property, plant, and equipment: $412,500
Buildings (net): $581,500
Equipment (net): $171,500
Land held for future use: $186,500
Intangible assets: $91,500
Held-to-maturity debt investment: $101,500
Prepaid expenses: $23,500
Current liabilities:
Accounts payable: $146,500
Notes payable (due next year): $136,500
Pension obligation: $93,500
Rent payable: $60,500
Premium on bonds payable: $64,500
Long-term liabilities:
Bonds payable: $511,500
Kna pioppons Common stock, $100 par, 100,000 shares issued: $301,500
Paid-in capital in excess of par: $171,500
Retained earnings: $171,500
Total liabilities and equity: $1,116,500
The above also considered a long-term liability. Liabilities are Current Assets in order of liquidity.
