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Given the following balance sheet, compute each of the following ratios (round to 2 decimals): The current ratio: The solvency ratio: The debt-equity ratio: ASSETS
Given the following balance sheet, compute each of the following ratios (round to 2 decimals): The current ratio: The solvency ratio: The debt-equity ratio: ASSETS Liabilities Current Cash Accounts Receivable Inventories Total Current Assets $80,000.00 $45,000.00 $95,000.00 $220,000.00 Current Accounts Payable Wages Payable Taxes Payable Total Current Liabilities $65,000.00 $30,000.00 $22,000.00 $117,000.00 Long Term Property Plant Equipment Less Depreciation Total Long-term Assets Total Assets $150,000.00 $225,000.00 $275,000.00 $55,000.00 $705,000.00 $925,000.00 Long Term Bang Loans Line of Credit Lease Obligations Other Long-term Liabilities Total Long-term Liabilities Total Liabilities $175,000.00 $75,000.00 $30,000.00 $5,000.00 $285,000.00 $402,000.00 Owner Equity Paid in Capital Capital Stock Retained Earnings $200,000.00 $125,000.00 $198,000.00 Total Owner Equity $523,000.00
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