Baggett Company€™s balance sheet accounts and amounts as of December 31, 2016, are shown in random order as follows:

Required:
1. Prepare a December 31, 2016, balance sheet for Baggett.
2. Compute the debt- to- assets ratio.

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Debit (Credit) Account Debit (Credit Income Taxes Payable Prepaid lems Additional Paid-in Capital on Common Slock 3,800 Additional Paidin Capital on Preferred 1,800 9,300 Allowance for Doubtful Accounts 12,200 Bonds Payable (due 2020 (6,000 Buildings 6400 Sinking Fund to Retire Bonds Payable 2,600 Advances from Customers (long-tem) 1,400 Cash 17,900) (1,600) 23,000 57,400 5,000 (2,600) 4,300 9,700) (18,300) 18,600) 1,400 (12,700) Stock Notes Payable Idue 2019 Noles Receivable [due 2018 Accounts Receivable Premium on Bonds Payable Accounts Payable (13,100) Accumulated Depreciation: Equipment 7,400 Relained Earnings Accumulated Depreciation: Buildings Patents (net) Equipment 21,000 Preferred Stock, $100 par 4,600 Wages Payable 28,700 Comm Stock, $10 par