Assessment 1, Problem 1.
XYZ Inc.: Balance Sheet as of December 31, 2013 (in thousands)
|Inventories||125,000||Other current liabilities||110,000|
|Total current assets||500,000||Total Current Liabilities||$350,000|
|Net fixed assets||500,000||Common equity||400,000|
|Total assets||$1,000,000||Total liabilities and equity||$1,000,000|
XYZ Inc.: Income Statement for Year Ended December 31, 2012 (in thousands)