a) Use your knowledge of balance sheets and ratio analysis to complete the following abbreviated balance sheet.

The relevant information you have is: current ratio=2 and debt/equity ratio = 1

Balance sheet item	Value
Current assets	80,000
Noncurrent assets
Total assets
Current liabilities
Noncurrent liabilities
Total liabilities
Owner equity	100,000
Total liabilities and equity

b) Calculate any other financial ratios given the above information.

c) If you are an agricultural loan officer, would you approve a loan to the farmer? Explain.