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Net income for the year totaled $2,000. Compute return on assets.
Format of Foreign Balance Sheet
Following is a balance sheet presented in standard U.S. format. Rearrange balance sheet to be in standard British format. Don't worry about differences in terminology; use the U.S. labels, but present the information in the British format.
Current Assets:
Cash
$ 500
Inventory
2,000
Total current assets
$ 2,500
Noncurrent Assets:
Property, plant, and equipment
$ 8,000
Long-term investments
1,700
Total noncurrent assets
$ 9,700
Total assets
$12,200
Current Liabilities:
Accounts payable
$ 300
Short-term loans payable
1,100
Total current liabilities
$ 1,400
Noncurrent Liabilities:
Long-term debt
$ 3,000
Stockholders' Equity:
Common stock, at par
$ 50
Additional paid-in capital
Retained earnings
5,750
Total stockholders' equity
$ 7,800
Total liabilities and stockholders' equity
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