Need help with question 7 on this assignment please and thank you.
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Analysis of Financial StatementsBalance Sheets EXHIBITS: INPUT DATA (XYZ) Table 1 Balance Sheets 2013E 2012 2011AssetsCash 9 85,632 $ 7,262 5 57,600Accounts receivable 678,000 632,160 351,200Inventories 1,716,480 1,267,360 715,200Total current assets $2,680,112 $1,926,602 5 1,124,000Gross fixed assets 1,197,160 1,202,950 491,000Less: accumulated depreciation 380,120 263,160 146,200Net fixed assets $ 617,040 $ 939,790 $ 344,600Total assets $3,497,152 $2,666,592 3 1,466,600 Liabiiities and equity Accounts payable $ 436,600 $ 524,160 145,600Notes payable 300,000 636,608 200,000Accruals 408,000 489,600 136,000Total current liabilities $1,144,600 61,650,568 481,600Long-term bonds 400,000 723,432 323,432Total debt $1,544,600 62,374,000 605,032 Common stock (100,000 shares) 1,721,176 460,000 460,000Retained earnings 231,176 32,592 203,768 Total common equity $1,952,352 $ 492,592 663,758Total liabilities and : - ul $3,497,152 $2,865,592 5 1,466,600
