1. The following data were taken from the report of the comptroller who made an analysis of the balance sheet of Wirant Company as of December 31, 2020 a Current ratio, 21 Ratio of liabilities to set, 40% Ratlo af stockholders equality to current assets. 90% d. Cash was 30% of total current set, while accounts receivable (not) was 15 times the value of merchandise inventory: the wlowance for doubtful accounts was equal to 10% of the outstanding accounts receivable The land and building were mortgaged to secure a loan maturing in 2023, the Interest accrued thereon had been paid up to balance sheet date. The estimated life of the building is 40 years. It was built 5 years ago at a cost 4 times that of the land and is being depreciated by the straight-line method without considering any scrup value I of the current liabilities, 20% covered by non-infrast bearing promissory notes issued to trade creditors, the rest represents balance of purchases on account. Capital stock consisting of 10,000 common shares, were originally sued at pur of P100 per shure, and had on balance sheet date book value of 120 each only a) Prepare the balance sheet as of December 31, 2020 b) Show supporting computations 1. The following data were taken from the report of the comptroller who made an analysis of the balance sheet of Wirant Company as of December 31, 2020 a Current ratio, 21 Ratio of liabilities to set, 40% Ratlo af stockholders equality to current assets. 90% d. Cash was 30% of total current set, while accounts receivable (not) was 15 times the value of merchandise inventory: the wlowance for doubtful accounts was equal to 10% of the outstanding accounts receivable The land and building were mortgaged to secure a loan maturing in 2023, the Interest accrued thereon had been paid up to balance sheet date. The estimated life of the building is 40 years. It was built 5 years ago at a cost 4 times that of the land and is being depreciated by the straight-line method without considering any scrup value I of the current liabilities, 20% covered by non-infrast bearing promissory notes issued to trade creditors, the rest represents balance of purchases on account. Capital stock consisting of 10,000 common shares, were originally sued at pur of P100 per shure, and had on balance sheet date book value of 120 each only a) Prepare the balance sheet as of December 31, 2020 b) Show supporting computations