Answer:
Valley Technology
Other Assets (amount in thousands) = $31,300
Explanation:
a) Data and Calculations:
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
Cash
Balance sheet 22,000
Decrease 200
Balance 21,800
Liabilities:
Balance sheet 36,000
Decrease 100
Balance 35,900
Equity:
Balance sheet 14,000
Net Income 3,600
Dividends paid 400
Balance 17,200
New Balance Sheet, March 31, 2018:
Cash 21,800 Liabilities 35,900
Other assets 31,300 Equity 17,200
Total assets 53,100 Total Liabilities + Equity 53,100
