Accounts payable 5875820
Accruals 874510
Accumulated depreciation 12458790
Additional paid in capital 18474110
Beginning year inventory 18756950
Common stock ($1.25 par value) 31578960
Cost of goods sold 68954230
Current portion of Long term debt 22587960
Gross Acc receivable 1458790
Gross fixed assets 74879560
Long term debt ( exc current portion) 22587960
Purchases 71489760
Retained earnings 6856510
Returns and allowance 15710
short term bank loan 248790
cash ????
*PLEASE EXPLAIN IF POSSIBLE* thank you
1. What did Phillip’s Plumbing Company record as Total Current Assets on Dec 31 2011 balance sheet?
2. What did Phillips Plumbing Company record as Total Current Liabilities on Dec 31 2011 balance sheet?