Answer:
Wave Corporation
Balance sheet as at 31 December, 2018
Amount in $'000 Amount in $'000
Non Current Assets
Long-term assets 43,000
Current Assets
Cash 50,000
Accounts Receivable 19,000
Total Current Assets 69,000
Total Assets 112,000
Equity and Liabilities
Equity:
Common stock 24,000
Retained Earnings 35,000
Total Equity 59,000
Liabilities:
Non current Liabilities
Long Term Loan note payable 30,000
Current Liabilities
Accounts Payable 23,000
Total Liabilities 53,000
Total Equity and Liabilities 112,000
Step-by-step explanation:
The balance sheet is a financial statement that shows the assets, owners equity and liabilities of an entity at a given date. It defines the accounting equation;
Assets = Liabilities + Equity