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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