Answer:
$171,421
Explanation:
According to the accounting equation the total assets are equal to the sum of total equity and total liability.
Asset = Equity + Liability
We have total assets of $1,181,252 and the sum of total equity and Liabilities is $1,009,831. The difference between these values will be the Long term debt of the company.
Long term debt = $1,181,252 - $1,009,831 = $171,421
Net plant and equipment $713,000
Goodwill & other assets $78,656
Cash $23,015
Accounts receivable $141,258
Inventory $214,100
Other current assets <u>$11,223 </u>
Total Assets <u>$1,181,252</u>
Common stock $313,300
Retained earnings $512,159
Accounts payable $163,257
Short-term notes payable <u>$21,115 </u>
Total Equity & Liability <u>$1,009,831</u>
