The balance sheet for Dresser Corporation at December 31, 2020, showed the following subtotals: Current liabilities 145,000 Property, plant and equipment 190,000 Total stockholders’ equity 290,000 Retained earnings 150,000 Total liabilities 220,000 Other long-term assets 150,000 Based on the above data, calculate the following amounts : 1. Current assets 2. Long-term liabilities 3. Contributed capital 4. Total liabilities and stockholders’ equity"

Answer and Explanation:

The computation is shown below;

1. The current asset is

= Total stockholder equity + total liabilities -  Property, plant and equipment  - Other long-term assets

= $290,000 + $220,000 - $190,000 - $150,000

= $170,000

2. The long term liabilities is

Total liabilities = current liabilities + long term liabilities

$220,000 = $145,000 + long term liabilities

SO, the long term liabilities is

= $220,000 - $145,000

= $75,000

3. The contributed capital is

Total stockholder equity = contributed capital + retained earnings

$290,000 = contributed capital = $150,000

So, the contributed capital is

= $290,000 - $150,000

= $140,000

4. Total liabilities and stockholders’ equity is

= total liabilities + stockholder equity

= $220,000 + $290,000

= $510,000

answer: e

explanation:

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.