2 The balance sheet of MGM Limited as at March 31, 2007 is shown below: Share capital 4,200 Fixed assets 8,870 Retained Earnings 2,480 Inventories 3,480 Term Loans 3,920 Receivables 2,580 Short-term Bank Borrowings 2,490 Cash 180 Accounts Payable 1,240 Provisions 780 15,110 15,110 The sales of the firm for the year ending on March 31, 2007 …Web