Balance Sheet

The following is an alphabetical list of Lloyd's Hudson Dealership Inc.'s December 31, 2019, balance sheet accounts and amounts:

Accounts Payable	$20,900		Finished Goods	$23,800
Accounts Receivable	15,300		Income Taxes Payable	8,900
Accrued Pension Cost	13,300		Interest Payable	500
Accumulated Depreciation: Buildings	32,400		Investment in Available-for-Sale Securities	16,400
Accumulated Depreciation: Machinery and Equipment	30,000		Land	17,000
Accumulated Other Comprehensive Income	2,000		Machinery and Equipment	57,800
Additional Paid-In Capital on Common Stock	16,300		Marketable Securities (short-term)	8,400
Additional Paid-In Capital on Preferred Stock	7,000		Notes Payable (short-term)	5,000
Allowance for Doubtful Accounts	1,000		Patents (net)	8,600
Bond Sinking Fund	7,700		Preferred Stock, $100 par	30,000
Bonds Payable (due 2027)	29,000		Prepaid Insurance	2,600
Buildings	92,500		Raw Materials	10,100
Cash	7,200		Retained Earnings	28,100
Common Stock, $10 par	44,100		Unearned Rent	5,000
Deferred Taxes Payable	2,800		Wages Payable	2,700
Discount on Bonds Payable	2,500		Work in Process	14,700
Dividends Payable	5,600

Required:

Question Content Area

1. Prepare a properly classified balance sheet for Lloyd's Hudson Dealership as of December 31, 2019.

LLOYD'S HUDSON DEALERSHIP INC. Balance Sheet December 31, 2019 Total leng-term imentruents Property, Nunt, and foupment: 3 intangtie husets: Tites Alaves Current Liabreses: Teest avrent tabities shareholders Equaty Contrituted Capar: 2. Next Level Compute the current ratio. Round your answer to two decimal places. The current ratio indicates that Lloyd has $ in for every