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Exercise 3-18 Calculating ratios; solve for unknowns [LO3-8) The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts

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Exercise 3-18 Calculating ratios; solve for unknowns [LO3-8) The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable and inventories. The December 31, 2018, balance sheet revealed the following: Inventories Total assets Current ratio Acid-test ratio Debt to equity ratio $1,000,000 $4,000,000 2.20 1.40 1.5 Required Determine the following 2018 balance sheet items $ 2,750,000 Long-term lablites t Prev

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