The Balance Sheet for Glenwood Corporation at December 31, 2014

Essay

The balance sheet for Glenwood Corporation at December 31, 2014 showed the following subtotals: $$\begin{array} { | l | r | } \hline \text { Current assets } & \$ 140,000 \\\hline \text { Current liabilities } & 80,000 \\\hline \text { Property plant and equipment } & 420,000 \\\hline \text { Total stockholders' equity } & 420,000 \\\hline \text { Retained earnings } & 120,000 \\\hline \text { Total liabilities } & 210,000 \\\hline \text { Other long-term assets } & 70,000 \\\hline\end{array}$$ Based on the above data, calculate the following amounts: $$\begin{array} { | l | l | l | } \hline \text { A. } & \text { Total assets } & \$ \\\hline \text { B. } & \text { Long-term liabilities } & \$ \\\hline \text { C. } & \begin{array} { l } \text { Common stock and Additional paid-in } \\\text { capital }\end{array} & \$ \\\hline \text { D. } & \text { Total liabilities and stockholders' equity } & \$ \\\hline\end{array}$$