Assessment 1, Problem 1.

XYZ Inc.: Balance Sheet as of December 31, 2013 (in thousands)

Cash $75,000 Accounts Payable $150,000
Receivables 300,000 Notes Payable 90,000
Inventories 125,000 Other current liabilities 110,000
Total current assets 500,000 Total Current Liabilities $350,000
    Long-term debt 250,000
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)

Sales $1,607,500

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