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Dougan Agriculture Company has total assets consisting of $500,000 of current assets and net fixed assets of $2,500,000. Driftless has notes payable of $500,000 and
Dougan Agriculture Company has total assets consisting of $500,000 of current assets and net fixed assets of $2,500,000. Driftless has notes payable of $500,000 and long-term debt of $1,000,000. Common equity is $1,250,000. It also has accounts payable of $250,000. What is the companys total debt? What is the amount of total liabilities and equity that appears on the firms balance sheet? What is the balance of current liabilities on the firms balance sheet?
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