Question

McRae Corporation's total current assets are 412,000, its non-current assets are $524,000, its total current liabilities are____and stockholders' equity is____. Working capital is $356,000, its long- term liabilities $274,000; $306,000.

Answer 1

Answer: See explanation

Step-by-step explanation:

It should be noted that:

Working capital = Current assets - Current liabilities

$356000 = $412000 - Current liabilities

Current liabilities = $412000 - $356000

Current liabilities = $56000

Stockholders equity = Total asset - Total liability

Total asset = $412000 + $524000 = $936000

Total liabilities = $56000 + $274000

= $330,000

Stockholders equity = Total asset - Total liability

= $936000 - $330000

= $606000