Use the starting balance sheet and statement of cash flows to answer the question. Torche Corporation
Balance Sheet
As of December 31, 2018
(amounts in thousands)
Cash 147,000 Accounts Payable 24,000
Accounts Receivable 48,000 Debt 37,000
Inventory 38,000 Other Liabilities 50,000
Property Plant & 218,000 Total Liabilities 111,000
Equipment, Gross
Accumulated Depreciation 60,000 Paid-In Capital 60,000
Property Plant 158,000 Retained Earnings 229,000
& Equipment, Net
Other Assets 9,000 Total Equity 289,000
Total Assets 400,000 Total Liabilities & Equity 400,000
Torche Corporation
Statement of Cash Flows
January 1 to March 31, 2019
(amounts in thousands)
Net Income 8,500
Depreciation 2,000
Decrease (Increase) in Accounts Receivable (800)
Decrease (Increase) in Inventory (300)
Increase (Decrease) in Accounts Payable (400)
Other Adjustments 0
Net Cash Flow from Operating Activities 9,000
Purchase of Property, Plant, & Equipment (5,400)
Other Adjustments 0
Net Cash Flow from Investing Activities (5,400)
Increase (Decrease) in Debt 100
Dividends (300)
Other Adjustments 0
Net Cash Flow from Financing Activities (200)
Net Cash Flow 3,400
What is the value for Total Liabilities & Equity on March 31, 2019?