Item$6$

$6$

points

eBookPrintReferencesCheck my workCheck My Work button is now enabledItem $6$

The current asset section of the Excalibur Tire Company$$s balance sheet consists of cash, marketable securities$,$ accounts receivable, and inventory. The balance sheet revealed the following:

Inventory $ $960,000$

Total assets $ $3,200,000$

Current ratio $2\mathrm{.}40$

Acid$-$test ratio $1\mathrm{.}20$

Debt to equity ratio $1\mathrm{.}5$

Required:

Determine the following balance sheet items: