Falls Jewelry Co.
	Balance Sheet as of
	(000s)
	Assets	12/31/21		12/31/22
	Cash	$ 20,000		$ 2,000
	Accounts Receivable - Avg	50,000		83,600
	Inventory - Avg	40,000		55,000
	Current Assets	110,000		140,600
	Property Plant & Equipment	350,000		470,000
	Accumulated Depreciation	(50,000)		(66,000)
	P P & E, Net	300,000		404,000
	Total Assets	$ 410,000		$ 544,600
	Liabilities
	Accounts Payable	30,000		36,000
	Long-term Debt	200,000		300,000
	Total Liabilities	230,000		336,000
	Stockholders' Equity
	Common Stock	100,000		100,000
	Retained Earnings	80,000		108,600
	Total Stockholders' Equity (SE)	180,000		208,600
	Total Liabilities and SE	$ 410,000		$ 544,600
4.	- Calculate the following ratios:
		2021		2022
	Current Ratio
	Quick Ratio
	Days Sales in AR
	Days Sales in Inventory
	Liabilities to Equity
5.	What observations would you make regarding the balance sheet (at least 2)? Use at
	least 1 ratio to support each observation.