The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.7 million and net
plant and equipment equals $2.3 million. It has notes payable of $145000 long-term debt of $746000 and total common equity of $1.45 million. The firm
does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity so it has no preferred stock on its
balance sheet.
For answers in millions write out your answer completely. For example 13 million should be entered as 13000000