3 . Common stock 2,874.2 9 . Equipment 1,957.7 4 . Notes payable 342.9 10 . Retained earnings 5,818.9 5 . Buildings 3,759.9 11 . Accounts payable 2,815.8 6 . Mortgage payable 1,311.5
Instructions ( a ) Classify each of these items as an asset , liability , or stockholders ' equity and determine the total
dollar amount for each classification . ( b ) Determine Nike ' s accounting equation by calculating the value of total assets , total liabilities , and
total stockholders ' equity . ( c ) To what extent does Nike rely on debt versus equity financing ? NOTE : Enter a number in cells requesting a value ; enter either a number or a formula in cells with a "?"
P1-3A Prepare an income statement , retained earnings statement and balance sheet ; discuss results On June 1 , Hightower Service Co . was started with an initial investment in the company of $ 22,100 cash . Here are the assets , liabilities , and common stock of the company at June 30 , and the revenues and expenses for the month of June , its first month of operations :