Use the starting balance sheet, income statement, and the list of changes to answer the question. Torche Corporation
Balance Sheet
As of December 31, 2017 (amounts in thousands)
Cash 30000 Liabilities 33,000
Other Assets 24000 Equity 21,000
Total Assets 54,000 Total Liabilities & Equity 54000
Torche Corporation
Income Statement
January 1 to March 31, 2018
(amounts in thousands)
Revenue 4,900
Expenses 3600
Net Income 1300
Between January 1 and March 31, 2018:
1. Cash increases by $100,000
2. Liabilities increase by $300,000
3. Paid-In Capital does not change
4. Dividends paid of $300,000
What is the value for Other Assets on March 31, 2018