Answer:
Ivanhoe Company
Balance sheet
Particulars Amount Amount
Assets
<u>Current assets</u>
Cash 12,050
Account receivables 22,000
Supplies 10,200
Debt investment 5300
Total current assets 49,550
Fixed assets
Land 197,900
Equipment 82,100
Less acc. depreciation (18,950)
Net equipment 63,150
Building 261,200
Less acc. depreciation (33,600)
Net building 227600
Land improvements 45,900
Less acc. depreciation (12,700)
Net land improvements 33,200
Note receivables 6,200
Patents 46,700
Investment in stock <u>71,300</u>
Total fixed assets <u>646,050</u>
Total assets <u>695,600</u>
<u></u>
Liabilities and shareholders equity
<u>Current liabilities</u>
Account payable 9800
Interest payable 3400
Income tax payable 15,500
Total current liabilities 28,700
<u />
<u>Long term liabilities</u>
Mortgage payable 91,900
Total long term liabilities 91,900
<u>Shareholders equity</u>
Common stock 80,000
Retained earnings 495,000
Total shareholders equity <u>575,000</u>
Total liabilities and shareholders equity<u>$69,5600</u>