Reconsider Lanni Products from Problem 7.(Appendix) a. Prepare its balance sheet just after it gets the bank
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Reconsider Lanni Products from Problem 7.(Appendix)
a. Prepare its balance sheet just after it gets the bank loan. What is the ratio of real assets to total assets?
b. Prepare the balance sheet after Lanni spends the $70,000 to develop its software product.
What is the ratio of real assets to total assets?
c. Prepare the balance sheet after Lanni accepts the payment of shares from Microsoft. What is the ratio of real assets to total assets?
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