P4-12 LO 4.3 LO 4.6 Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance of Meadows Company on December 31, 2019: Debits Credits Accounts Payable $ 9,800 Accounts Receivable $ 18,000 Accrued Payables 6,500 Accumulated Depreciation 44,000 Additional Paid-in Capital 50,600 Cash 7.900 Common Stock, $5 par 29,600 Cost of Goods Sold 175,500 (continued) Credits Debits 1,000 6,200 12,500 7,000 27,560 12,340 7,500 Accumulated Other Comprehensive Loss Current Portion of Long-Term Debt Deferred Taxes Payable Dividends Distributed General Expenses Income Tax Expense Income Taxes Payable Interest Expense Inventories Investment in Held-to-Maturity Bonds Long-Term Debt Long-Term Receivables Marketable Securities (short-term) Patents (net) Prepaid Insurance Property, Plant, and Equipment Retained Earnings, 1/1/19 Sales Selling Expenses 4,300 32,000 36,000 56,300 38,600 10.100 13,000 5,000 148,000 64,800 270,000 21,500 $557,800 $557 800 Required: 1. Prepare Meadows's December 31, 2019, balance sheet. 2. Next Level Compute the debt to assets ratio. What does it indicate about Meadows at the end of 2019