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E7-10 Presented on page 326 is partial balance sheet information related to Batten Ltd.

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Presented is partial balance sheet information related to Batten Ltd., a United Kingdom company at December 31. All financial information has been translated from pounds to dollars.


BATTEN LTD.
Balance Sheet (partial)
(in thousands)
 
Fixed assets
   Tangible assets  900,000
Current assets
   Stocks (inventory)  300,000
   Debtors  121,000
   Investments  53,000
   Cash  62,000
   536,000
Creditors
   Amount falling due within one year  100,000
Net current assets  436,000
Total assets less current liabilities  1,336,000
Creditors
   Amount falling due after one year  240,000
Total net assets  1,096,000

Instructions
(a) Restate the asset side of the balance sheet in accordance with generally accepted accounting principles in the United States.

(b) What is the amount of total stockholders’ equity?

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