Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance of Meadows Company on December 31, 2019: Debits Credits Accounts Payable $ 9,800 Accounts Receivable $ 20,000 Accrued Payables 7,100 Accumulated Depreciation 44,000 Accumulated Other Comprehensive Loss 1,000 Additional Paid-in Capital 50,600 Cash 7,900 Common Stock, $5 par 29,600 Cost of Goods Sold 174,500 Current Portion of Long-Term Debt 6,200 Deferred Taxes Payable 12,500 Dividends Distributed 7,000 General Expenses 27,560 Income Tax Expense 12,340 Income Taxes Payable 7,500 Interest Expense 4,300 Inventories 32,000 Investment in Held-to-Maturity Bonds 36,000 Long-Term Debt 56,600 Long-Term Receivables 38,600 Marketable Securities (short-term) 12,200 Patents (net) 13,000 Prepaid Insurance 5,000 Property, Plant, and Equipment 148,000 Property, Plant, and Equipment Retained Earnings, 1/1/19 Sales 148,000 67,000 270,000 21,500 $560,900 $560,900 Selling Expenses Required: 1. Prepare Meadows's December 31, 2019, balance sheet. Meadows Company Balance Sheet December 31, 2019 Assets Current Assets: Total current assets Long-Term Investments: Property, plant, and Equipment: Intangible Assets: Total Assets TOCOCOTCHISSC Long-Term Investments: Property, plant, and Equipment: Intangible Assets: Total Assets Liabilities Current Liabilities: Total current liabilities Long-Term Liabilities: Other Liabilities: Total Liabilities Shareholders' Equity Contributed Capital: Total contributed capital CUITCI LOUMICS Total current liabilities Long-Term Liabilities: Other Liabilities: Total Liabilities Shareholders' Equity Contributed Capital: Total contributed capital Total shareholders' equity Total liabilities and shareholders' equity 2. Next Level Compute the debt-to-assets ratio. Round your answer to two decimal places. What does it indicate about Meadows at the end of 2019? Round your answer to two decimal places. This ratio reveals that only % of Meadows's have been financed with debt