Balance Sheet

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

Account	Debit (Credit)	Account	Debit (Credit)
Income Taxes Payable	$(3,800)	Additional Paid-in Capital on Preferred
Prepaid Items	1,800	Stock	$(7,900)
Additional Paid-in Capital on Common Stock	(9,300)	Allowance for Doubtful Accounts	(1,600)
Land	12,200	Bonds Payable (due 2020)	(23,000)
Notes Payable (due 2019)	(6,000)	Buildings	57,400
Notes Receivable (due 2018)	16,400	Sinking Fund to Retire Bonds Payable	5,000
Accounts Receivable	12,600	Advances from Customers (long-term)	(2,600)
Premium on Bonds Payable	(1,400)	Cash	4,300
Accounts Payable	(13,100)	Accumulated Depreciation: Equipment	(9,700)
Inventory	7,400	Retained Earnings	(18,300)
Accumulated Depreciation: Buildings	(21,000)	Preferred Stock, $100 par	(18,600)
Patents (net)	4,600	Wages Payable	(1,400)
Equipment	28,700	Common Stock, $10 par	(12,700)

Required:

1. Prepare a December 31, 2016 balance sheet for the Baggett.

Baggett Company
Balance Sheet
December 31, 2016
Assets
Current Assets:
		$
	$
			$
Long-Term Investments:
		$
Property, Plant, and Equipment:
		$
	$
	$
Intangible Assets:
Liabilities
Current Liabilities:
		$
			$
Long-Term Liabilities:
	$
		$
Other Liabilities:
Shareholders Equity
Contributed Capital:
		$
			$
			$
			$

2. Compute the debt-to-assets ratio. Round to one decimal place. Do not enter a percent sign (%) as part of your answer. %