5 20 points Skipped Problem 13-24A Ratio analysis LO 13-2, 13-3, 13-4, 13-5 Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 eBook Print Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items $ 23,000 21,400 $ 19,000 7,400 55,000 47,000 140,000 148,000) 29,000 14,000 Total current assets 268,400 235,400 Investments 32,000 25,000 Plant (net) 280,000 265,000 References Land 32,000 27,000 Total assets $612,400 $552,400 Liabilities and Stockholders' Equity Liabilities Current Liabilities Notes payable Accounts payable Salaries payable $35,400 88,800 23,000 $ 13,9001 75,000 17,000 Total current liabilities 147,200 105,900 Noncurrent liabilities Bonds payable 120,000 120,000 Other 29,000 24,000 Total noncurrent liabilities 149,000 144,000 Total liabilities 296,200 249,900 Stockholders' equity Preferred stock, (par value $10, 4% cumulative, non-participating: 9,000 shares authorized and issued) 90,000 90,000 Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings 90,000 90,000 136,2001 122,500 Total stockholders' equity 316,200 302,500 Total liabilities and stockholders equity $612,400 $552,400 Check