Business, 26.06.2020 15:01 TheOriginalMeyah
Use the starting balance sheet, income statement, and the list of changes to answer the question. Gulf Shipping Company Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 38,000 Liabilities 22,000 Other Assets 27,000 Equity 43,000 Total Assets 65,000 Total Liabilities & Equity 65,000 Gulf Shipping Company Income Statement January 1 to March 31, 2020 (amounts in thousands) Revenue 5,100 Expenses 2,800 Net Income 2,300 Between January 1 and March 31, 2020: 1. Cash decreases by $100,000 2. Other Assets do not change 3. Paid-In Capital does not change 4. Dividends paid of $400,000 What is the value for Liabilities on March 31, 2020?
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Use the starting balance sheet, income statement, and the list of changes to answer the question. Gu...
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