Question
Blossom Company has been operating for several years, and on December 31, 2025, presented the following balance shee BLOSSOM COMPANY Balance Sheet December 31,
Blossom Company has been operating for several years, and on December 31, 2025, presented the following balance shee BLOSSOM COMPANY Balance Sheet December 31, 2025 Cash $44,000 Accounts payable $80,000 Receivables 69.600 Mortgage payable 178,780 Inventory 79,200 Common stock ($1 par) 152,300 Plant assets (net) 238,500 Retained earnings 20,220 $431,300 $431,300 The net income for 2025 was $25,878. Assume that total assets are the same in 2024 and 2025. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) (a) Current ratio (b) Acid-test ratio (c) Debt to assets ratio % (d) Return on assets %
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
18th Edition
1119790972, 9781119790976
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