The most recent comparative balance sheet of Giacomelli Corporation appears below: Ending Beginning Balance Balance Asse

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The Most Recent Comparative Balance Sheet Of Giacomelli Corporation Appears Below Ending Beginning Balance Balance Asse 1 (126.47 KiB) Viewed 68 times

The most recent comparative balance sheet of Giacomelli Corporation appears below: Ending Beginning Balance Balance Assets: Current assets: Cash and cash equivalents.. Accounts receivable... Inventory.. Total current assets. Property, plant, and equipment. Less accumulated depreciation.. Net property, plant, and equipment.. Total assets..... Liabilities and Stockholders' Equity Current liabilities: Accounts payable... Accrued wages and salaries payable. Accrued income taxes payable. Notes payable.. Total current liabilities. Long-term debt. Deferred income taxes Total liabilities.. Stockholders' equity: Common stock.. Retained earnings. $ 37,000 $ 29,000 20,000 24,000 70,000 68,000 127,000 121,000 424,000 399,000 231,000 200,000 193,000 $320,000 $ 19,000 36,000 21,000 22,000 199,000 $320,000 $ 17,000 33,000 18,000 18,000 98,000 86,000 77,000 80,000 26,000 24,000 201,000 190,000 31,000 88,000 30,000 100,000 Total stockholders' equity... 119,000 130,000 Total liabilities and stockholders' equity..... $320,000 $320,000 Which of the following classifications of changes in balance sheet accounts as sources and uses is correct? Select one: O a. The change in Property, Plant, and Equipment is a use; The change in Long-Term Debt is a source O b. The change in Property, Plant, and Equipment is a source; The change in Long-Term Debt is a source O c. The change in Property, Plant, and Equipment is a use; The change in Long-Term Debt is a use O d. The change in Property, Plant, and Equipment is a source; The change in Long-Term Debt is a use