Question
or Evergreen Environmental Engineering (EEE), determine the working capital, current ratio, and acid-test ratio. Evaluate the companys economic situation with respect to its ability to
or Evergreen Environmental Engineering (EEE), determine the working capital, current ratio, and acid-test ratio. Evaluate the companys economic situation with respect to its ability to pay off debts.
EEE Balance Sheet Date ($1000s)
Cash $110,000
Securities 40,000
Accounts Receivable 160,000
Inventories 250,000
Prepaid Expenses 3,000
Accounts Payable 351,000
Accrued Expenses 89,000
(b) The entries to complete EEE's balance sheet include:
More EEE Balance Sheet Data ($1000s)
Long-term liabilities $220,000
Land $25,000
Plant and Equipment $510,000
Accumulated Depreciation $ 210,000
Stock $81,000
Capital surplus $15,000
Retained earnings $15,000
Retained earnings value not given
Construct EEE's balance sheet
c) What are EEE's values for total assets, total liabilities, and retained earnings?
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