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Exercise 3-18 (Algo) Calculating ratios; solve for unknowns (L03-8] The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities,

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Exercise 3-18 (Algo) Calculating ratios; solve for unknowns (L03-8] The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 940,000 $3,200,000 2.20 1.20 1.5 N Required: Determine the following 2021 balance sheet items 1 Current assets 2 Shareholders equity 3 Long term assets 4 Long-term liabilities

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