A skeleton of Katheys Florals balance sheet appears as follows (amounts in thousands): Use the following ratio
Question:
Use the following ratio data to complete Katheys Florals balance sheet:
a. Debt ratio is 0.56.
b. Current ratio is 1.20.
c. Quick (acid-test) ratio is0.460.
Transcribed Image Text:
A1 Balance Sheet Cash Receivables s 260 Total current liabilities (a) Long-term debt 2,100 Inventories 1374 Other long-term liabilities 920 Prepaid expenses Total current assets Plant assets, net (d) Common stock 2,375 Retained earnings 200 2,814 8 Other assets 9 Total assets $6,850 Total liabilities and equity 0
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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