Problem - The balance sheet for Farber Corporation at December 31, 2018, showed the following subtotals:
Current liabilities 110,000
Property, plant and equipment 320,000
Total stockholders' equity 400,000
Retained earnings 250,000
Total liabilities 240,000
Other long-term assets 120,000
Based on the above data, calculate the following amounts:
Current assets
Long-term liabilities
Contributed capital
Total liabilities and stockholders' equity