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Business, 06.09.2020 02:01 emily0981

Use the starting balance sheet, income statement, and the list of changes to answer the question. Valley Technology
Balance Sheet
As of December 31, 2017
(amounts in thousands)
Cash 22,000 Liabilities 36,000
Other Assets 28,000 Equity 14,000
Total Assets 50,000 Total Liabilities & Equity 50,000
Valley Technology
Income Statement
January 1 to March 31, 2018
(amounts in thousands)
Revenue 7,200
Expenses 3,600
Net Income 3,600
Between January 1 and March 31, 2018:

1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Paid-In Capital does not change
4. Dividends paid of $400,000

What is the value for Other Assets on March 31, 2018?

Please specify your answer in the same units as the financial statements.

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Answers: 2

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