FIN 571 Week 1 MCQ 100% correct

FIN 571 Galan Associates prepared its financial statement for 2008 based on the information given here. The company had cash worth  $1,234, inventory worth  $13,480, and accounts receivables of  $7,789. The company's net fixed assets are  $42,331, and other assets are  $1,822. It had accounts payables of  $9,558, notes payables of  $2,756, common stock of  $22,000, and retained earnings of  $14,008. How much long-term debt does the firm have?

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