What information can be calculated from Krispy Kreme’s trial balance?

Krispy Kreme, Inc. (NASDAQ:DNUT) is a multinational doughnut company and coffeehouse chain headquartered in Winston-Salem, North Carolina, United States. It is a publicly held corporation.  Krispy Kreme operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. Krispy Kreme’s 2021 fiscal year ended January 2, 2022, and its 2020 fiscal year ended January 3, 2021. To follow is a condensed and adapted trial balance as of January 2, 2022, that was constructed from those financial statements. 

Please note that the accounts have been adapted and condensed for educational use and should not be used for investment decisions. Krispie Kreme’s complete, unabridged financial statements can be found on its investor relations website.

Note: The trial balance above can also be downloaded in Excel format for enhanced readability and accessibility. The trial balance should not be used for investment decisions; it has been adjusted for educational purposes.

View a quick tutorial video about trial balances at this link and then answer the following questions.

Questions (calculate each of the following totals using Krispy Kreme’s trial balance)

1. Current assets
2. Total assets
3. Current liabilities
4. Total liabilities
5. Net income
6. Ending retained earnings
7. Total stockholders’ equity
8. Write Krispy Kreme’s accounting equation as of January 2, 2022.

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