Balance Sheet Nicole Corporations yearend 2009 balance sheet

Balance Sheet Nicole Corporation\'s year-end 2009 balance sheet lists current assets of $749,000, fixed assets of $599,000, current liabilities of $544,000, and long-term debt of $699,000. What is Nicole\'s total stockholders\' equity?

Solution

Total assets=Current assets+Fixed assets

=(749000+599000)=1,348,000

Total liabilities=Current liabiltiies+Long term debt

=(544000+699000)=$1,243,000

Total assets=Total liabilities+Total equity

Hence total stockholders equity=(1,348,000-1,243,000)=$105,000.