Answer and Explanation:
The computation is shown below;
1. The current asset is
= Total stockholder equity + total liabilities - Property, plant and equipment - Other long-term assets
= $290,000 + $220,000 - $190,000 - $150,000
= $170,000
2. The long term liabilities is
Total liabilities = current liabilities + long term liabilities
$220,000 = $145,000 + long term liabilities
SO, the long term liabilities is
= $220,000 - $145,000
= $75,000
3. The contributed capital is
Total stockholder equity = contributed capital + retained earnings
$290,000 = contributed capital = $150,000
So, the contributed capital is
= $290,000 - $150,000
= $140,000
4. Total liabilities and stockholders’ equity is
= total liabilities + stockholder equity
= $220,000 + $290,000
= $510,000
