A skeleton of Pine Florals' balance sheet appears as follows (amounts in thousands): Use the following ratio
Question:
Use the following ratio data to complete Pine Florals' balance sheet:
a. Debt ration is 0.58.
b.Current ration is 1.10.
c. Quick (acid-test) ratio is 0.200.
Transcribed Image Text:
Balance Sheet Cash Receivables Inventories Prepaid expenses 260 Total current liabilities 2,250 (a) Long-term debt 750 Other long-term liabilities 980 Total current assets Plant assets, net Other assets Total assets (d) Common stock 160 2,570 2,450 Retained earnings 6,500 Total liabilities and equity
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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