Use the following balance sheet to answer the question. CFX…

Questions

Use the fоllоwing bаlаnce sheet tо аnswer the question. CFX Construction Co. Balance Sheet FY 2016                 Period: 10/01/2012 to 09/30/2013   Assets                         Current Assets:             Cash         $430,000.00     Billed (Not Received)       $100,000.00     Reserve       $7,000.00     Work in Progress       $125,000.00                       Total Current Assets           $662,000.00                 Fixed Assets:             Vehicles   $125,000.00           Accumulated Depreciation   ($80,000.00)   $45,000.00                     Equipment   $2,500,000.00           Accumulated Depreciation   ($1,110,000.00)   $1,390,000.00                     Buildings   $350,000.00           Accumulated Appreciation   $112,000.00   $462,000.00                                     Total Assets           $2,559,000.00                 Liabilities and Capital                 Current Liabilities:             Accounts Payable       $500,000.00     Short Term Expenses and OH       $140,000.00     Payroll Taxes Payable       $145,000.00       Total Current Liabilities           $785,000.00                 Long-Term Liabilities:             Mortgage Payable       $225,000.00       Total Long-Term Liabilities           $225,000.00                 Total Liabilities           $1,010,000.00                                 Net Worth           $1,549,000.00 What is the firm’s total equity?

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